December 31, 2017

S&P 500 Year End update

  • Month Chart shows no weakness. Its been 14 Months since price broke below the Low of the Month. 
  • One note of caution is the Extreme overbought readings shown in Monthly RSI. Right now the reading is 82. But it has been like that for Many months now.
  • The Last week of 2017 is hinting some weakness. Previous Week was a Pin Bar like candle which got follow up in the current week. Bears need to break below 2650 levels to target 2600 and below.
  • ES One hour and 4 Hour bearish charts

December 30, 2017

ES Analysis after closing bell

  • Weakness in hour has also affected 4 hour support levels.
  • 4 Hour cloud is broken.
  • One has to wait and see if bears has the stuff to affect the daily and Weekly time frames in the coming week. 
  • Is the year end price action signalling whats about to happen in 2018 ?

December 29, 2017

ES Chart analysis

  • ES 4 Hour and one hour chart shows crucial support zone between 2675 - 2680.
  • Bulls will remain strong above these levels.

December 28, 2017

ES Cloud support and Holiday Range

  • 4 Hour with cloud shows price seeking support on it. Staying above the cloud should result in an upper breakout to new high's again.
  • Price continue to remain in side the Holiday range. Range should resolve for bigger moves to follow.

December 25, 2017

APPLE Weekend update

  • Daily chart shows the steady up move of Apple. Price pausing at the latest resistance zone around 176. Another up move is possible on crossing this zone. But the Weekly chart shows price close to the resistance line. Weakness near the resistance line may give quick gains for Apple bears.
  • Weakness can be confirmed if price falls below the cloud on 4 hour chart. If this happens a Down swing is possible. Staying above 176 will continue to favour bulls.

December 21, 2017

CRUDE Oil Triangle update

  • One thing is for sure, Crude oil getting ready for explosive moves soon. Direction is likely to be tricky. First breakout outside the triangle is likely to be false one.
  • For the short term more weakness if false below 57.50 Levels.

ES Chart analysis

  • ES 4 Hour shows immediate resistance at 20 SMA. Price need to get back above this moving average for new high's again.
  • One hour too is below the Ichimoku cloud. Closing above the cloud may result in another new high's for ES.

December 20, 2017

GOLD Chart update

  • Gold bulls continues to hold above hourly cloud. 
  • Gold Bulls need to close above 200 day SMA for bigger up moves to follow. 

December 19, 2017

GOLD Trend update

  • Up move in daily chart is running into resistance.
  • Bulls must close above 200 Day SMA for bigger up moves to follow. 
  • Gold bulls will loose momentum If price falls below one hour cloud. 

December 17, 2017

CRUDE Oil Weekend update

  • Crude oil daily has a triangle shaped consolidation.
  • Rising 50 Day SMA is crucial support line for Crude oil bulls. 
  • Weakness in Weekly can only be confirmed once price closes below 54.20 levels.
  • GOLD Weekend update

December 16, 2017

NIFTY Weekly MACD Reversal set up

  • Weekly chart is shown with MACD.
  • The reversal Marked with Alphabet A is a straight forward reversal. But This time price action looks like the 1 2 3 Reversal shown on the left hand side. Remember its only similar , It may not be exact. In short we are looking at  a possible Triple negative divergence before a major correction could start.

Gold Weekend update

  • Gold Hour shows bullish price action.
  • Hourly cloud is the crucial support for this bullish swing. Close below the cloud will negate this bullish move.
  • Weekly bollinger band shows price bouncing from lower BB. If weekly high's are broken price may target the Middle BB.

December 15, 2017

ES Charts before opening bell

  • Bounce from 200 SMA is helping bulls for now. But Bulls need to get back above hourly cloud to stop a bearish reversal from taking place. Bears need to keep price below hourly cloud to resume correction. Bigger fall only on hour closing below 200 SMA.

ES Chart Analysis after closing bell

  • Hour cloud shows price violating the cloud and falling back to its 200 Hour SMA. More weakness for ES Bulls on price closing below 200 Hour SMA.
  • Daily candle too shows weakness for ES Bulls.
  • GOLD Hour chart analysis

December 14, 2017

GOLD Chart analysis

  • GOLD Hour trying to turn up 
  • Gold bulls need to stay above the hourly cloud to extend the hourly reversal.
  • Price likely to move towards 1266 - 1270 zone as shown in daily chart.

ES Support levels

  • ES one hour time frame with immediate support levels.
  • Bears need a close below hourly cloud for an hourly down swing to start.

December 13, 2017

ES Hour chart update

  • One hour chart shows weakness at the top.
  • Another close below 50 Hour SMA may result in correction.

December 12, 2017

ES One hour Trend update

  • ES Bulls continues the bullish move in a Bullish channel. 
  • Moving averages too shows no weakness for the bullish alignment.
  • Weakness for Hourly bulls only if price starts to trade below 50 Hour SMA.

NIFTY Chart analysis

  • Nifty daily is in a bearish channel. This could change to a Bullish flag as well.
  • Weakness may resume if price falls below 20 Day SMA.
  • Week took support at 20 Week SMA to avoid major weakness. Now major trend will resume if price sustains above 10400 levels.