February 6, 2013

ES Trend Update

  • ES Four hour chart in a trading range.
  • Rising support line and cloud are crucial support for the up trend. Breaking below these two levels may trigger a sharp fall. Sustaining above these two levels will keep the up trend intact.

BIDU Chart analysis

  • Weekly charts looking good for BIDU bears. Price may move towards the Lower bollinger band in weekly time frame.
  • Second chart shown with Stochastic sell signals in weekly time frame. Last two signals have done well. Stochastic has given another sell signal now.
  • Daily chart may attempt a pullback if price starts to trade above 99.65 levels. 50 Day SMA may act as resistance.

BANK of America Chart analysis

  • First chart of BAC shows price in a trading range between 11 .02 to 12 .2.
  • Second chart shows MACD nearing a buy signal which may do well only on price closing above 12 .2 level.
  • Last chart shows price ranging above 50 Day SMA. As long as price sustains above 50 SMA bulls are safe for an upper breakout. Closing below 50 SMA Could start a bigger correction.

S&P 500 Futures Hour chart analysis

  • ES one hour chart shown with support and resistance lines.
  • Second chart shows Fib levels in one hour chart.
  • Last chart shows 50 Hour SMA. Falling below 50 Hour SMA will extend the fall towards the lower end of the range

NIFTY Testing support levels

  • NIFTY Daily chart testing 50 Day SMA.
  • Weekly chart too is near 5 Week LOW EMA.
  • Price may bounce because of multiple support levels at this area. But a bigger down move looks likely if price starts to close below these levels.

S&P 500 Analysis after closing bell

  • S&P 500 One hour chart shows the broadening top pattern still intact. Weakness near the resistance line may lead to a down move.
  • Price yesterday closed at the base of the cloud. This area acted as support for an up move.
  • Daily chart shows a trading range between 1495 - 1514 and crucial support at 20 day SMA.

APPLE Resistance levels

  • First chart shows immediate resistance levels for apple in One hour chart between 462 - 465.
  • Fib levels of 4 Hour chart shows 23.6% near the above mentioned resistance zone.
  • Last chart shows a falling wedge in daily chart which has broken on the wrong side. Now bulls can make a bigger pullback if price break back into this pattern again.