CISCO DAILY CHART
CISCO WEEKLY CHART
- Daily chart closed below 20 SMA. Trading above 20 SMA can give a buy signal in daily chart which can extend this bounce.
- MACD in weekly time frame is looking good for bears. MACD histogram is showing negative divergence. MACD lines have given a sell. Bears need price to close below 20 week SMA. Last weekly candle at 20 week SMA is looking good for a small bounce.
- BULLISH ENGULFING OF QQQ
- QQQ Weekly chart shows Bullish engulfing pattern.
- There is no big change in volume which is required for an engulfing pattern.
- Weekly MACD is getting closer to a sell so for this engulfing to be effective follow up buying is required and a breakout above 68.55 will add strength for bulls.
- Daily chart is shown with price above 20 and 50 day SMA. Price need to sustain above these two crucial moving averages
and above 68.55 to avoid a bearish cross.
- GOOGLE WEEKEND UPDATE
- A long trade looks likely in google daily if price stays above 20 and 50 day sma.
- MACD of daily time frames is closer to a buy signal which should help bulls to target price towards the resistance line of a contracting triangle pattern.
- S&P 500 WEEKEND UPDATE
- SPX Daily chart looks good for bulls. If price sustains above 20 SMA it should hit the 1422 resistance level.
- Daily macd has turned positive for bulls and price in weekly is moving away from 20 Week SMA which may delay the weekly MACD sell signal. Next hope for bears will be the recent resistance level of 1422.
- The Daily Bollinger band continue to contract which is leading to lower volumes.
- 3 rd chart shows possible support and resistance lines which may give good direction for nifty.
- 2nd chart shows price near lower Bollinger Band with oversold stochastic which may result in a bounce.
- The weekly time frame shows MACD getting ready for a perfect sell But for this one price need to confirm with a close below middle bollinger band. Nifty Bulls may get help from middle bollinger band for a rally also.
- So its better to wait for a clear signal to emerge. Sideways action can be boring and may erode the capital if one doesn't play the range properly.
- DOW JONES RESISTANCE LEVEL
- Dow Jones daily chart shows resistance between 13288 - 13297 levels, which was also the recent high.
- Hour chart shows a trending up move above 20 Hour SMA. Holding this moving average Dow jones may give an upper breakout above the resistance level.
- If day sustains below 20 SMA and closes below it we may see an extended correction.
- 15 Minutes shows a bullish flag like pattern which should help bulls if an upper breakout happens
- One hour if keeps the closing values above the cloud and 50 Hour SMA we should see another up move soon.
