Saturday, January 21, 2012

Bearish Doji Star

Nifty - End of Day Chart - 20  Jan  2012 - Candles
The last time we paid attention to Candlesticks it paid off good (post here). So here is the next possibility. Suggested reading material below..

S&P 500 - End of Week Analysis - Monthly channel breach?

S&P 500 - EOW Analysis - Week 16-20  Jan 2012.
We had observed last week (post here) that the price could break either of the channel lines it was between. Price closed above the red channel line which is the channel bottom of the monthly channel (from here). With 10 days to go for the month to end, bulls just need to keep it above the red line for monthly momentum to remain on their side.  Déjà vu ?