My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
December 20, 2012
ES Chart analysis
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrDK4TOK-rnWOdEih-finEBHqJTP1jKKdWpgSo3c4bk4Kd64fFBmpRlO7vLLUeGSJFA_98TNukhmwjRr0frFEUtcqJPYB_u776IXi_EzC27lfE2cQME6pGzcZUwOFMNr9NOsJ_ofP5y0M/s640/es+daily+chart.gif)
- ES One hour chart sustaining below 50 Hour SMA may lead to a bigger fall.
- Four hour chart shows price above the cloud. For a bigger fall price must break below this cloud.
- Daily chart shown with crucial support lines for bulls to hold above.
- SPX ANALYSIS AFTER CLOSING BELL
BANK of America Bearish Engulfing
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmb6FvuuH1L4y3fa_qVNd4N4BzDWOAk3ICPUTw7d6XnGe3B-XptgxMjcRBW3XIhrXL5rYsVcTWAqdfVTaCPxu3FgmkbfL5T4UEvf71B4lAD0NO_VgcmcpIu5wrP7HoWPHqlHS3eJgnzBk/s640/bac+200+week+sma.gif)
- BAC Daily chart shows a bearish engulfing pattern. Engulfing patterns needs confirmation with price advance and Volume increase.
- Weakness in weekly chart at Golden ratio and 200 Week SMA. Bulls need to close the week above these two levels which will also negate the bearish engulfing discussed above.
- SPX ANALYSIS AFTER CLOSING BELL
RELIANCE Power Triangle pattern
- Reliance power with a triangle pattern in daily chart.
- The support line of the triangle and the 100 SMA may act as confluence of support. If this level breaks we may see deeper falls in this stock.
- Breakout in favor of bulls from the smaller triangle should also takeout the crucial falling resistance line shown in weekly chart for a bigger up move to happen.
- NIFTY 50 STOCKS REALTIME 5 MINUTES CHART WITH AUTOREFRESH
NIFTY Chart update
- NIFTY Daily chart shows a range at the top.
- Daily RSI Moving down from overbought region may stop bulls from breaking out of the range.
- Weekly chart also shows a resistance line and MACD Negative divergence which may make it tougher for bulls to breakout.
- NIFTY 50 STOCKS REALTIME 5 MINUTES CHART WITH AUTOREFRESH
S&P 500 Analysis after closing bell
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjznl_53z_qutFual4SLOc8FHhtxo2iYPgdiUSRPi4Fc2XJYe_8koPdY3XSpc-4xQLRW-_IIXvJJnClBYtFsJjNhASklDA4VeSYx2uOF9jhMKw3WmXIbdWf2pzuAhO9-oSny1i8B1MHdfU/s640/spx+daily+chart.gif)
- SPX One hour chart shows weakness But price yet to break below crucial supports like Hourly cloud. Bigger falls can be seen if Hourly cloud does not hold.
- 4 Hour chart too shows price above the neck line of the inverted head and shoulders pattern.
- Daily chart almost gave a Dark Cloud cover pattern. If the opening was slightly higher for the day candle we should have had a perfect Dark cloud cover pattern. Now for bulls price must sustain above the falling resistance line which was broken earlier.
- QQQ CHART UPDATE
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