- First chart shows a trading range in daily chart.
- Second chart shows price trying to hold above 50 and 100 Day SMA.
- Possible inverted head and shoulders pattern in daily chart.
- Weekly chart shows price holding above 20 Week SMA on closing basis. Sustaining above 20 Week SMA should favor bulls of IWM.
- SPY WEEKEND UPDATE
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
December 9, 2012
IWM Weekend update
QQQ Weekend update
- Daily MACD is looking negative But price is able to sustain above 20 Day SMA. For bears daily close below 20 SMA could give a correction.
- 50 and 200 Day SMA is acting as resistance levels.
- Weekly candle managed to stay above 50 Week SMA. But if price starts to trade below 50 Week SMA it could result in a bigger fall. Weakness below 64.25.
- SPY WEEKEND UPDATE
Subscribe to:
Posts (Atom)