Stock Market Chart Analysis

December 14, 2012

RIMM Sustaining above 50 Week SMA has entered the weekly cloud. For the down trend of the stock to reverse price must trade above the weekly cloud.
Weekly chart has already reached overbought zone. Bulls need price to sustain above 50 Week SMA for the current up move to continue. If price does not loose momentum it could target either the 100 Week SMA or the 23.6% Fib level as shown in last chart.
Weakness below 50 Week SMA.
S&P 500 ANALYSIS AFTER CLOSE

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First chart shows correction from the falling resistance line.
Bigger correction can be seen if the black up trend line shown in the second chart does not hold.
Price also testing 50 Day SMA. Bears need a daily close below this level for an extended fall.

SPY Hour chart shows price above the cloud.
Price also staying above 100 Hour SMA.
30 Minutes chart shows price falling towards the up trend line. Break of these levels may lead to a bigger correction. Holding above the cloud should help bulls to move up again.

Silver daily chart shows price falling towards the support line of a contracting pattern.
Price has broken below 50 and 100 Day SMA. If price holds above the up trend line this will be another false break below 100 Day SMA. A bigger fall possible on price breaking below the up trend line.

Apple weekly chart shows RSI in oversold zone But not yet exhausted. If price stays above the crucial support zone of 505 - 518 we may get an up move.
Immediate resistance level is the 20 Day SMA and support at lower Bollinger band.
Death cross is done and this level along with 50% Fib level may act as stiffer resistance if apple bulls manage to get there.
DOW JONES ANALYSIS AFTER CLOSING BELL

ES Correction from 78.6% Fib level pausing at golden ratio. For bears price need to sustain below golden ratio for a bigger fall.
Price is also pausing at the Daily Ichimoku cloud and 50 day sma. Holding above these two levels may help bulls to move up again.
DOW JONES ANALYSIS AFTER CLOSING BELL

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