ES Four hour chart analysis

• ES Four hour chart shows price approaching a resistance line with overbought stochastic readings.
• If this up move is strong then Indicators will stay overbought and price will continue to move up.

Apple Founder Steve Jobs is no more

February 24, 1955 – October 5, 2011

             

  Steve Jobs Dies at the age of 56. According to me his accomplishments for Apple and computer industry can never be equaled by any one.

One of the famous quotes about Steve came from Bill Gates: "The world rarely sees someone who has had the profound impact Steve has had, the effects of which will be felt for many generations to come,"

A Quote by Steve jobs from his famous Stanford University speech in 2005

"Remembering that I'll be dead soon is the most important tool i have ever encountered to help me make the big choices in life. Because almost everything all external expectations, all pride,  all fear of embarrassment or failure these things just fall away in the face of death,  leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart"

"Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma  which is living with the results of other people's thinking. Don't let the noise of others opinions drown out your own inner voice"

 

ES Hour chart analysis

• This is a continuation of the previous post.
• Price has broken above the resistance line in hour chart.
• Now it has to close above 200 Hour SMA for continuing this up move.

S&P 500 Futures near resistance line

CHART-II - UPDATED

• ES unable to cross the resistance line on this attempt. Correction if limited to 50 Hour SMA we might see another successful attempt to break above the resistance line.

CHART-I

• ES staying above 50 hour moving average will favor bulls.
• But price has to break and sustain above the resistance lines for continuing this bounce.
• Failing to move above the resistance line may resume the fall.
• AAPL 200 SMA TRADE
  
  

CRUDE OIL Holding on to the support line

• Crude oil daily chart with support and resistance lines.
• Price is testing support line drawn at 75.67.
• Price is able to stay above it for now.
• Bears of crude oil need daily candle to close below 75.67 which may push price below $70
• AAPL 200 SMA TRADE
  

NIFTY Support Levels

• Important support for nifty in weekly chart is between 4675 - 4720.
• Weekly channel support line for this week is near 4600.

APPLE Near 200 SMA

CHART-II (UPDATED)

• Price went down till the 200 SMA and started to reverse.

CHART-I

• Price having broken 50 SMA is moving towards 200 SMA.
• Trend line in weekly chart looks good for bulls despite this correction.
• In the short term price momentum is with bears. 350 levels is good support area.