October 12, 2010

S&P 500 Analysis after closing bell


  • S&P 500 daily chart has given another Doji candle. We had one candle last week. Doji indicates indecision. 
  • Price is trading well above 10 DMA. First signs of weakness will be visible only if price makes a close below 10 DMA.
  • Daily chart is also showing an interesting pattern. Price is converging between the resistance and support line which should be resolved soon.
  • S&P 500 INTRADAY CHART WITH EMA

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