- First chart shows price sustaining above the trading range and falling resistance line.
- Second chart shows price testing 20 Week SMA. Price must sustain above Middle bollinger band for the up move to continue.
- Weekly MACD is showing a bullish cross which may do well if price starts to trade above Middle bollinger band.
- APPLE WEEKEND UPDATE
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- RIMM Weekly chart falling from 17.96 level which was a previous resistance level in weekly chart as shown in first chart.
- Second chart shows a Huge Bearish Engulfing pattern which managed to engulf past two weekly candles. But charts shows crucial support at 20 and 50 Week SMA between 10 and 11 area.
- Fib levels also shows price trying to bounce from 50% Fib level. So more fall if 50% Fib level is not held.
- APPLE WEEKEND UPDATE
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- Apple daily in a range blow the result GAP.
- Price and RSI shows positive divergence.
- Fib levels shows price trying to stay above 78.6% Fib level. If last week's low is held we may see an upper breakout from the range into the GAP.
- S&P 500 ANALYSIS AFTER CLOSING BELL
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- SPX Weekly chart shows price yet to hit the resistance line. For next week's candle the resistance level is around 1525 area.
- Second chart shows Weekly RSI refusing to move above 70% line into the Overbought zone. Price is making good progress while the Indicators is slow which mostly favors the bullish move to extend.
- Last chart shows Price engulfing last two day's of weakness. Price continues to move inside the bullish channel with no meaningful correction.
