Stock Market Chart Analysis

June 20, 2012

CRUDE OIL Testing crucial resistance levels in 20 Day SMA and crucial levels in four hour chart. If the prevailing trend is strong these levels may become good selling opportunities. While a close above 20 Day SMA and a breakout above the range shown in last chart may give a decent bounce for crude oil.

SPY Testing crucial resistance levels.
Day has to close above 135.90 and Golden ratio to sustain the bullishness. Unable to close above these levels may result in a sell off.
Week will turn bullish only on closing above 20 Week SMA.

ES Four hour chart nearing the resistance line
Price sustaining above 200 and 50 period SMA will favor bulls.
ES daily chart shows crucial resistance in Golden ratio and previous support levels which may act as resistance. For a bigger breakout price must breakout and sustain above this level. Getting resisted here may result in good correction.
SPX ANALYSIS AFTER CLOSE

Nifty getting resisted at crucial resistance levels mentioned in earlier posts.
For bulls these levels should be crossed on closing basis for continuing the up move which looks tough for bulls.
Bears must break below 5020 for extending the down move.

SPX Daily chart shows price testing 50 Day SMA. Bulls of SPX need a daily close above this level to continue this up move.
Four hour chart shows price nearing The Golden ratio and previous support level at 1357 - 1358 which may act as a resistance area.
If price gets near 20 Week SMA this level too will be difficult to cross. We have a MACD sell signal in weekly chart. So for negating bearishness price need to trade above 20 Week SMA or face deeper correction.

Apple bulls trying to stay above 50 day sma. Last attempt to stay above this level was failed. Bulls need a daily close above this level.
Bulls also need a daily close above the Ichimoku cloud for extending this up move.
588 is the immediate resistance in hour chart.
GOOGLE AT WEEKLY TREND LINE