- S&P 500 Looking weaker than Dow Jones in hour chart.
- It is trending down below the 50 Hour SMA.
- And now that it has closed below the Ichimoku cloud in hour chart it will take a big effort from bulls to pull the index up above 1086.
- yesterday mentioned about 1086 being an important support on closing basis. A close below 1086 means going to 1071.
- But if the index manages to make a pull back through the bottom of the cloud, The bulls may try to stay above 1086 at least on closing basis.
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
June 24, 2010
S&P 500 Hourly chart trending down
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