August 11, 2012

QQQ Weekend update

  • QQQ Weekly chart shows MACD Buy signal.
  • 2nd chart shows weekly consolidations which continues to give upper breakouts.
  • Daily chart shows negative divergence which may give a correction in favor of bears.

GOOGLE Weekend update

  • GOOGLE Daily MACD is getting ready for a sell signal.
  • Weekly Bollinger bands show price near upper bollinger band. Last two hits at weekly bollinger hand has worked well for google bears.
  • Last chart shows an overbought weekly stochastic But price has not confirmed bearishness yet.

State Bank Of India Chart analysis

  • SBI daily chart shows a high volume breakdown.
  • Weekly triangle pattern too has breakdown in favor of bears.
  • Next crucial support level is at 1802. Weekly stochastic continue to favor bears if 1802 does not hold then deeper correction can be seen.