Stock Market Chart Analysis

November 15, 2012

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Facebook moved up yesterday with good volumes.
Daily chart is nearing the crucial resistance level of 100 Day SMA. Last time stock was corrected from this level.
Daily chart also shows price in a consolidation range between 17 and 24. The GAP between 25.54 and 26.73 will act as stiff resistance if 100 SMA is crossed on closing basis.
S&P 500 ANALYSIS AFTER CLOSING BELL

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SPX Daily nearing golden ratio.
Price has fallen below 50 Week SMA and is likely to move towards 100 Week SMA.
Confluence of support at 38.2% and 100 Week SMA shall result in a bounce if price tests this level.

Dow Jones sustaining below 50 Week SMA will continue to favor bears of Dow Jones.
If the fall continues price may target the 100 Week SMA or the 38.2% Fib level in weekly chart as its next target

QQQ Daily chart with MACD indicator has been showing positive divergence for some time now without any reversal.
200 and 20 Day SMA is about to do a bearish cross and any reversal attempt will face stiff resistance around this bearish cross zone near 65.
Daily chart is showing a pin bar candle at channel support line with the positive divergence this setup may result in a small bounce. Trading below 62.78 will continue to favor bears.
MICROSOFT CHART ANALYSIS

Weekly charts of Microsoft with broken support levels and Up trend lines.
Last chart shows price violating a crucial up trend line in weekly time frame. If the week closes at the current levels or lower price could target the falling dotted line shown in the chart.

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