June 11, 2010

SP 500 End of day analysis

DAILY CHART
DAILY CHART
WEEKLY CHART

  • Daily chart of SP 500 shows the price breaking the channel and closing outside of it.
  • Has good resistance from 1080 to 1100
  • Weekly chart shows the classic resistance turning into support.
  • in setember 2009 sp 500 met a resistance. Now those points has become supports.
  • In weekly the price has deviated away from 20 SMA. So the price may want to go back to retest the 20 SMA.
  • In weekly chart A reversal from the current level to Were 20 sma stands will become another head and shoulders.
  • The 2nd daily chart shows the 10 , 20 and 200 SMA
  • The index has closed above the 10 DAY MOVING AVERAGE. But has stopped just below 20 SMA.






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