S&P 500 Analysis after closing bell

• 3rd chart shows the negative cross of 20 week moving average below 50 week moving average. So for the longer term things look bearish.
• For the very short term this index may get to 1100 where it may find resistance. But if the index manages to cross the weekly resistance line a good rally will happen.
• We have a channel breakout in daily chart and a close near the high of the day which should be positive for the short term. 
• Index closed right at the 50 dma and 20 dma. Trading above these moving averages will be very positive for the bulls. Failing to cross 50 DMA will result in a pull back.