Ford Motor co Triangle in weekly chart

• Ford Motor is showing good momentum on the upside.
• If the stock moves above 13 one can go long with a small stop loss.
• If the stock gets resisted at the top of the triangle the stock can still remain inside the pattern with a breakout or breakdown possibility that can take place in the coming weeks.
• Breakdown from the weekly triangle can create a topping pattern for the stock which can push the stock down for medium term.

AT&T Inc weekly chart

• AT&T Inc has been showing good upward momentum for the past two weeks.
• The stock has performed well last week along with the major indices.
• In the weekly chart the stock has closed by hitting an important resistance line. There is a rising support line too. So next week the stock should breakout from the apex of this pattern and give good direction towards the breakout side.
• Breakout should close above the resistance line towards the high of the day for indicating strength.

Dow Jones Weekend update

• Dow Jones is showing a triangle formation in its daily chart.
• Right now a rally towards the top of the triangle is going on.
• The current up move may find resistance around 10600 where the price will meet the resistance line. 
• A dip from 10600 towards the support line of the triangle will create a classic triangle breakout set up for Dow Jones industrial average.
• Triangles are known to give false breakouts. So a false move above 10600 is also possible, This move may not go beyond 10750 where the resistances are strong.
• S&P 500 WEEKEND UPDATE
  
• DOW JONES PULL BACK TRADE
  

TATA STEEL Weekend update

CLICK THE CHARTS TO ENLARGE

• Tata Steel gave a good buy when it broke the trend line in daily chart as showing in the first chart. Stochastic too gave a buy signal.
• Now the stock has given a good up move. my target was 553 the recent high as shown in the first chart.
• If the stock moves above 449-553 and closes above 553 fresh long positions can be taken.
• Stock continues to be positive closing above all major moving averages. 
• But staying below the range of 449-553 will attract the bears as well.
• PREVIOUS ANALYSIS OF TATA STEEL
  

See this chart in a mirror

IN REALITY A BROADENING PATTERN

BUT REVERSE THIS, TO SEE A CONTINUATION TRIANGLE BREAKDOWN

• In reality this is a broadening pattern but if you see this in a mirror this becomes a classic triangle breakdown. a retest of the breakdown area and a big correction.
• So if this is a continuation pattern this should continue towards the upside.
• Well the patterns always does not perform the way it is defined, so see what's happening and then take a decision. I am just trying to show how the patterns show up in charts time and again.

S&P 500 end of day analysis

• S&P 500 reversal from 1039 to the recent high seems to be happening in faster time scale. which is indicating the strength of the up move, It is also indicating the possibility of a new high in the near future for this index.
• Index has closed above 20 and 50 DMA convincingly. It is approaching the 200 DMA now. The next battle between the bulls and bears might take place around here. But seeing the strength of the current up move 200 DMA should be taken out easily.
• FORD MOTOR CO WEEKLY CHART TRADING IN A TRIANGLE
• AT&T NEAR BREAKOUT AREA
  

Dow Jones futures hour chart

CHART - II

• Dow Jones hits the upper end of the channel and is going up again as discussed below.

CHART - I

• Dow Jones futures broke out today morning from the hourly channel
• Now it is loosing most of the gains.
• If the pull back is limited to the top of the channel one can enter a long trade.