February 4, 2018

APPLE 200 sma and Monthly Upper Shadows

  • Apple Daily chart shows a confluence of support with 200 SMA and support line. This confluence must be held by bulls to avoid further weakness.
  • Upper shadows of the recent month candles suggested weakness. If the current month does a bearish close then a Bear swing is possible in this time frame.
  • S&P 500 Weekend update

NIFTY Weekend update

  • First chart the Daily time frame shows price falling back into the channel. Such false spikes mostly results in fast fall on the opposite direction. For Bulls price must keep itself inside this pattern. Breaking the support line of the pattern may result in bigger weakness.
  • Nifty Month shows the crucial number at 10500. If the Month candle closes near or below this number then its a Bearish engulfing in the Highest time frame. So bulls need to avoid this scenario as well.
  • Last chart shows the 100 SMA. Since this reversal is strong its quite normal for price to reverse to such mean lines. Now for the up trend to be intact this line must be held once it gets tested.
  • S&P 500 Weekend update

S&P 500 Weekend update

  • ES Month chart shows price falling towards Previous month low of 2674. Bigger weakness in Month time frame only if this level gets broken on closing basis. Its been 15 months since price has gone below the previous month low. So bears badly need to break this trend extend weakness.
  • Week is looking good with price engulfing Multiple previous candles. Week just need the day to come along by breaking below 50 Day SMA. Daily close below 50 SMA should take price towards the Month low mentioned above.
  • For bulls 50 SMA is a level to hope for a reversal.
  • ES Levels in 4 Hour Time frame