June 19, 2010

SP 500 analysis after closing bell

  • SP 500 has formed three dojis in daily chart.
  • So this is the third day of indecision.
  • The hour chart shows a formation of a triangle. The hour chart has already broken the raising channel.
  • And this is the 4th day closing above 200 day moving average. But no significant movement of price away from the 200 day moving average. which might put some more doubts in to the minds of the bulls.
  • The 20 day moving average is starting to turn up

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