Dow Jones futures before opening bell

CHART - I

• Dow Futures broke 9965 and gave a long trade as discussed below.
• Now next resistance is at 10064 above that may rally towards the channel resistance line.

CHART - II

• Dow Jones futures breaking 9965 was negative for the bulls.
• Now if the index trades above 9965 convincingly a long trade is possible

Nifty Futures Intraday Update

CHART - II

• Nifty bounces from 5360 levels as discussed below.

CHART - I

• Nifty futures may give a long trade from 5360 levels.
• One can keep a stop loss of 5346 for this trade.

NIFTY daily chart analysis

• Nifty did a gap up on Monday but faced selling pressure throughout the day and closed near the recent lows.
• the index has closed below 20 DMA. It is testing 50 DMA. Closing below 50 DMA will test important support areas.
• U.S. markets also ended in the negative territory which may give a gap down for us.
• S&P 500 analysis after closing bell
  

S&P 500 end of day analysis

• Upper trend line of the channel seems to be too strong to break.
• Most of the gains made by the bulls on Friday has been taken off 
• Now the 20 DMA and 50 DMA is ready to give a negative cross over. So some more down side possible.
• The direction will be decided once the range in hourly chart discussed earlier in this post gives direction

Dow Jones in a channel

• Dow Jones is trending down in a channel in 10 minutes time frame.
• The current down move may find support at 10040 levels. If 10040 level does not hold then the correction will be large.

S&P 500 Hourly Trading range

CHART - 2

• 20 Hour moving average broken and the index is moving towards the lower end of the range as discussed below.

CHART - I

• S&P 500 may trade in a range of 1039 - 1065 for sometime to come.
• Right now the index is resting at the 20 hour moving average and below 50 hour moving average.
• If 20 hour moving average does not give support index may move to the lower end of the trading range.

Dow Jones futures before opening bell

CHART - II

• If The white line in the channel breaks correction can extend to 9900 levels

CHART - I

• Dow Jones futures has hit the resistance line and is going down.
• It seems the resistance line is too hard to break for now. 
• 10040 is a very important support zone.