December 15, 2012

S&P 500 Weekend update

  • Weekly chart shows an inverted hammer or a shooting star pattern closing below 20 Week SMA. 
  • 2nd chart shows daily time frame falling from resistance line. Fall will extend below 20 Day SMA.
  • Last chart which is the weekly time frame shows crucial levels of SPX. For bulls need a weekly close above 1422 for an up move towards 1474 levels. Weakness on closing below 1422 and weaker below 1396.
  • APPLE SUPPORT LEVELS (Month and Week)

DOW JONES Analysis after closing bell

  • The pin bar of daily chart has given a correction for bears. 
  • Daily chart managed to close above 50 Day SMA.
  • Weekly chart too has given a bearish candle. It looks like an inverted hammer pattern. This one will be effective if Price in daily chart starts to trade below 50 Day SMA on closing basis.

EURUSD Chart update

  • EURUSD Daily chart testing the resistance zone.
  • 2nd chart shows the presence of a golden cross in daily time frame. Golden cross will do well if price breaks and sustains above the resistance zone.
  • Last chart is the weekly time frame with price above the falling resistance line. Week closing near the high's may favor bulls of eurusd for the coming weeks.

SPY Intraday update

  • SPY Hour chart testing crucial support levels at 100 Hour SMA and the Hourly ichimoku cloud. Break below these levels may take SPY towards 38.2% Fib level shown in last chart.