$SPX ( S&P500 ) as of November 13, 2020: SPX increased by 48.14 (1.36%) points.
SPX penetrated the range boundary again but closed within the range, marked as a pink rectangular box.
Though we anticipated a sideways move the SPX made a higher high today. It is likely that the up move will continue and we may see a new high soon.
In the weekly chart, we got a...
$UBER made a nice move after a breakout from the cup and handle pattern.
It filled the last gap created by it. It seems the pullback is over and likely to resume the journey.
The entry and exit are marked on the chart.
$MTD made an all-time high with a gap-up on November 06. Next three days it almost filled the gap and
last day it made an effort to resume the journey. As the trend is very strong it is likely that it will touch the all-time high again.
If we could take a position at open the stop-loss will be below 1122.80 and profit target may be a new high.
SPX ( S&P500 ) as of November 12, 2020: SPX decreased by 35.65 (-1.00%) points.
SPX failed to make a breakout from the range for now and closed below the neckline of the double bottom pattern.
If it continues the decline it may get support around EMA20 and EMA50 at 3456 and 3410. But if it resumes the rally,
the range boundary around 3588 will act as resistance...
SPX ( S&P500 ) as of November 11, 2020: SPX increased by 27.13 (0.77%) points.
On November 09, 2020, SPX made a gap-up and broke out from the neckline confirming the double bottom("W") pattern. But the higher price was rejected and we got an inverted hammer candle.
Next day it filled the gap but the lower price was rejected and we got hammer type candle. In the...
$AWK is in strong uptrend and making higher lows and higher highs in the daily
and weekly chart. In the daily chart, it made an inside bar and it is likely that the uptrend will resume making a higher high.
A buy signal will trigger if the price goes above the high of mother bar @ 162.84.
$MSFT made two gap-up in a row and paused at the neckline of the double bottom pattern.
Last day it filled the last gap and closed near the day's high and made a hammer candle.
The moving averages made the golden cross.
As the momentum is still high we may see a breakout and it may face resistance at 229-233 level.
The weekly chart made a WRB candle and likely to...
$NVDA made a double bottom pattern and made the neckline breakout with 20% higher volume.
The next resistance is at the all-time high at 589.07, breaking of which will make a new ATH.
We need to watch the 590 level, it may react at this level and make a higher low for resuming the uptrend.
As the participation is gradually increasing we may see a new high...
SPX ( S&P500 ) as of November 06, 2020: SPX decreased by 1. 01 (-0.3%) points.
The current rally of the index paused and made a Doji candle, a candle of indecision.
As we anticipated the index reacted at supply zone before penetrating the neckline of the double bottom pattern.
We won't be sure for now if the pause is for gaining strength or for a reversal, it...
SPX ( S&P500 ) as of November 05, 2020: SPX increased by 67.01 (1.95%) points.
The rally is continuing and the index is 40 points away from the neckline of the double bottom pattern.
As the index has entered into the supply zone and the neckline is at 3550, it is likely that we may see a reaction around this level.
In spite of this rally, the index is still in...
SPX ( S&P500 ) as of November 04, 2020: SPX increased by 74.42 (2.21%) points.
We are going through a rally and a follow-through of last day's move. The index strongly moved above the resistance of EMA20 and EMA50.
The double bottom pattern is going to take full shape if it moves above the neckline @ 3550.
But the supply zone is around 3550 as such we may see...
SPX ( S&P500 ) as of November 03, 2020: SPX increased by 58 .92 (1.78%) points.
We observed a follow-through of last day's move and the index filled the gap it created last week.
The higher low is now more pronounced and the double bottom pattern is very noticeable.
But the problem here is to confirm the double bottom pattern it needs a breakout from the...
SPX ( S&P500 ) as of November 02, 2020: SPX increased by 40.28 (1.23%) points.
An interesting situation here, SPX made a higher low last day, if it continues the rally to the upside we may see a reversal from the current decline.
If the rally continues we may see a double bottom pattern instead of the double top pattern. But still, there is a chance of a complex...
SPX ( S&P500 ) as of October 30, 2020: SPX decreased by 40.15 (-1.21%) points. The index made a lower low but recovered some lost points and made a partial hammer candle (pin bar).
The double top pattern is still valid. The neckline of the double top pattern is at 3209.45, breaking of which will penetrate the WMA-200.
If it happens, the long-term uptrend will...