My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
March 14, 2013
ES Channel and support
- ES 4 Hour chart shows an ascending channel and price moving towards the resistance line of the channel
- One hour chart shows a possible support zone. Weakness only if price starts to trade below the shaded area.
- S&P 500 ANALYSIS AFTER CLOSING BELL
QQQ Chart analysis
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRMg384TN3YsG33P_LtaGb4aBiJi0-3Ngp0ymGZ7vYklELjIoYSaXXx3rovpxQQ9hSXG2jImHO3ARw90dgikKxDLjvITMxkSNbB3ScT4waXNAfP7gZ10NfjNZNm1QBZsJWjdg614JBP-M/s640/QQQ+WEEKLY+RSI.png)
- Daily chart shows a range an unfilled GAP.
- Range is at 78.6% Fib level So bulls need a weekly close below the range and 78.6% Fib level to weaken the uptrend.
- Last chart shows Weekly RSI near overbought levels But indicator is yet to hit a resistance line. So price may continue to move up till the indicator hits and reverses from the resistance line.
- S&P 500 ANALYSIS AFTER CLOSING BELL
NIFTY Chart update
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjXsyhD87gse4BMeyheSEX2AHf7FHudECkev5-pX2-UAdaKZ46FxAiXZGT_mlkpzaxNYuaNaqqQq5tdKmrlYeE6x30PjPjh7oYipzc6jkMSay7c1omGM4u-XIsfVIJQLs_iO8dwaTmgyuA/s640/NIFTY+MIDDLE+BOLLINGER+BAND.png)
- Nifty closes below the cloud. Price sustaining below the cloud may lead to a bigger fall.
- Daily chart is testing support levels. Weakness from golden ratio has taken Nifty to 38.2% fib level. Price is also at 20 Day SMA. These two levels must break for the down move to continue.
- AIRTEL HEAD AND SHOULDERS
S&P 500 Analysis after closing bell
- SPX Daily chart shows the bullish structure intact as price continues to move up inside the channel. Shallow corrections are followed by bigger up moves.
- Now weekly chart is showing overbought structure but yet to trigger a fall. Weekly RSI Falling below 70% line should give another dip in weekly chart.
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