September 15, 2010

S&P 500 had a doji day

  • S&P 500 daily chart is showing indecision at the top of the trend. another important thing the index is finding tough to cross the 1129 mark. Everyone is calling a Triple top to form at this area.
  • Candles like this one appears before a short term trend reversal. Lets see how this one affects the trend.
  • Weekly chart is back to the area between 50% to 61.8% where the index found resistance in the past. IF S&P 500 breakout from this area it will get good upward momentum.
  • The futures chart is indicating an Inverse head and shoulders pattern which is bullish CLICK HERE TO SEE IT.

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