July 7, 2010

S&P 500 Trading above 50 hour moving average

  • Now S&P 500 is trading above 1046 the earlier mentioned resistance. 
  • The index is also trading above its 50 hour moving average.
  • The most important thing for the bulls is to sustain above these points till end of day.
  • If they fail to hold on to 1046 and a place above 50 hour moving average bears will be back to sell this rally.
  • 1046 WILL BE HARD TO BREAK ON CLOSING BASIS CLICK HERE TO SEE THE CHART

2 comments:

  1. Dear San,
    U.S. markets were too over sold to react in only this manner.So Bulls are likely to hold 1046 even at the end.Let us see.

    ReplyDelete
  2. @mynac
    held on to 1046 and closed higher at 1060. good news for asian markets

    ReplyDelete