Dow Jones analysis after closing bell

• Dow Jones has closed above the all important level of 11000
• Next target and resistance for the index comes at 11200
• The daily chart shows the strength of the trend with just one close below the 10 DMA from 10160 levels.
• S&P 500 ANALYSIS AFTER CLOSING BELL
  
  

S&P 500 Analysis after closing bell

• Daily has closed above the trading band of 1150 - 1160.
• Trading well above 10 day moving average.
• Weekly chart is also looking bullish after the successful break of 1150 resistance level. Closing too is near the high of the week giving optimism for the bulls.
• Next likely target for this index is 1210 there will be some resistance near 1170 levels.
• BROADENING PATTERN OF S&P 500
  

EURUSD : Trend is your friend

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• EUR/USD Currency pair has been respecting this trend line drawn in 4 hour chart for quite some time now.
• It started from 1.26 and the pair crossed 1.40. The trend line is yet to be violated.
• This shows the effectiveness of a Trend following trading system.
• USD/JPY VIOLATES THE WEEKLY SUPPORT LINE
  

S&P 500 Broadening pattern

CHART-II

• S&P 500 Futures is approaching the top end of the pattern as discussed below.
• Next likely targets are 1163 and if sustains above 1163 it can go up to 1166.

CHART- I   BEFORE OPENING BELL

• Broadening pattern of S&P 500
• Today the index made a low of 1146. Took support at 1146.
• If that level holds that may be the low for this week. And the index may be heading towards the top end of the pattern

APPLE near all time high again

• Apple today broke out of the smaller range mentioned yesterday which was 285.11 - 291.87.
• Breakout above 294 will be positive for the stock and can give a good rally in favour of the bulls.
• If keeps on getting resisted at 294 without crossing this level it will be negative.

USDJPY Violates Weekly support line

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WEEKLY CHART

MONTH CHART

• USD/JPY has violated the Weekly support line that has been giving support for the pair.
• 81 area is important because the month chart is showing support here.
• So closing below 81 will be bearish for this currency pair.

GOLD: Support Resistance zone

CHART - II

• Gold has closed above the resistance area mentioned below. Sustaining above 1350 can push prices higher again

GOLD HOUR CHART - I

• Gold hour chart is getting resisted at 1343 levels.
• 1343 is quite close to the 50 hour moving average. 
• Yesterday it broke down below 50 hour moving average. So if it trades above 50 hour moving average and 1343 level hour can turn bullish again.