- Google daily shows price testing the upper end of the range.
- One hour is sitting at the cloud. Bears need price to break and close below the hourly cloud for a possible Down swing to start.
- Price for now is staying below 50 period SMA. Bears should keep price below this line to build bearish momentum.
-
QQQ Weekend update
-->
- QQQ Daily chart shows price nearing crucial resistance line.
- Weekly Chart shows a potential Bearish Doji. This one needs confirmation though. Price should open lower and close lower and it should not Move above the Current Doji for the candle to be most effective.
- Weekly chart also shows Big negative Divergence. But it also shows MACD Lines close to a bullish crossover which could be a Fake setup as well.
- ES ANALYSIS AFTER CLOSING BELL
-->
- SINA 4 Hour time frame shows price testing crucial support zone around 109. This time frame also shows price near 100 Period SMA. Price closing below these levels may complete The Triple Top.
- If price stays below 100 Period SMA Then stock may fall towards 100 Levels.
- Bulls need to protect 109 for a reversal up move to start from the current levels.
- ES ANALYSIS AFTER CLOSING BELL
-->
- Daily chart shows another MACD Bearish cross that Did not happen. Histogram of MACD Clearly shows a negative divergence But this too did not work and Bulls managed to take price up Before a Bearish cross of the MACD Lines could happen.
- Hourly chart shows the resistance line of the recent pattern Acting as support.
- Last chart shows immediate support levels in Hour time frame.
-->
- The bearish rising wedge pattern did move towards Bears but only for a little while. Technically it reached the Target which was the base of the pattern But for the Negative divergence seen it could've done more. But bulls though otherwise.
- Now the base of the pattern around 2540 becomes a crucial support zone since Bulls found support there during this correction.
- Price in one hour has moved back above the cloud.
-->
- Daily chart shows price nearing the Apex of the contraction pattern.
- Hourly Cloud trade continues to do well for ES Bulls.
- Hourly close below the cloud will only indicate weakness in smaller time frame.
-->
- 4 Hour contraction is moving up with Negative divergence. Price if falls below the rising support line will give the Correction for Negative divergence.
- One hour cloud continues to be good for ES Bulls. Negative divergence shown in first chart may start working if price in Hour closes below the cloud. Till then Bulls in control.
-->
