Gurmeet

Gurmeet

More the 1% gain brings bulls back party but they may not fully controlled until we close above 50 EMA 5150 levels Hourly changed to up today but daily trend is still down. Day price closed just above 20 EMA and touched 50 EMA today which is positive. now 5040 may act good support and 5100 is good resistance. Most earning are good side but Tesla as worse the...

Gurmeet

Hourly and daily trend is still down. Market closed 7 days in red in a row. SPX closed again below 50 DMA. Support is near around 4950 and 5009 is the resistance and swing highs is 5040. Therefore, there are more chance for market have some relief rally tomorrow.

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Tussle between bears and bulls resulted a narrow close after big sell off in first hour today. SPX pull back in last hour shows strong resilience from bulls before big CPI day. Dragonfly Doji candle formed on daily time frame which is positive sign for bulls. – Hourly Trend is still down – Swing high and lows are around 5260 and 5160 respectively. Tomorrow we...

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Bitcoin steps away from all time high but question is will this time break ATH or get rejection from previous resistance! Overall Crypto market also getting how with Bitcoin move as we most coins are being pumped. – Inflation numbers and stock market move also effect BTC rally! – Trend is up on weekly, daily and hourly – Volume is not significant – Swing low...

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– I am guesstimating is down, what is your guess? – Its was First after 13 weeks when weekly candle closed more than 1% in red. – Weekly Starting to Point down. – Inflation data and many more important news this week - Also so far April month candle looks weak, may be this is the red month finally for the bears after straight 5 months! My view is bearish for...

Gurmeet

SPX plunged more than 100 points from top and closed more than 1.2% down. First time RSI fell bellow 50 after Nov 2023, its big bearish sign for month of April!l - Weekly Trend is Still up - Daily candle closed well below 20 EMA and trend reversed - Hourly Trend is down - Weekly swing high is at 5226 and daily resistance is 5180 - Weekly swing low is...

Gurmeet

SPX closed in green 5200 but could not sustained the morning rally. Open and low of the day was the same, this is positive for the market at this point – Weekly Trend is up – Daily Trend is up – Hourly Trend is still down – Weekly swing high is around 5255 and first resistance is around 5234 – Weekly swing low is around 5180 but if this breaks next support...

Gurmeet

SPX managed to close above 5200 after testing swing low as mentioned in our previous post, check here if you missed. – It was down day for S&P 500 and Nasdaq but overall trend remains up – Weekly Trend is up – Daily Trend is still up – Hourly Trend turned down now – Weekly swing low is around 5180 but if this breaks next support come just below 5160.

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- Silver finally playing catch up rally with Gold - Strong trend but hitting the multiple resistance zone - A small pullback can be expected in couple days in this area - Gold/silver ratio is a bullish sign for silver for near term - Any pull back can be a buying opportunity for Silver! - I will be entering for long once its close above 26

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- S&P 500 and Nasdaq trend remains up - Weekly Trend is up - Daily Trend is up - Hourly Trend is sideways - Weekly swing low is around 5180

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Although its advertising revenues was slightly below projections, Alphabet’s Q4 earnings and revenue beat analyst expectations.Google can test its resistance near 150 area and you can take stop loss 127 for short term and 120 for mid to long term view. Entry 132 Stop loss 120 First Target 150

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Trend is still very strong 5200 levels are in insight short term support is around 5055

Gurmeet

Monitor the support if this hold, we see big upside move. Make sure to follow strict stop loss.

Gurmeet

Monday candle can decide the trend, it may go down big time if the support is broken. Probably previous lows are going be tested!