October 16, 2010

S&P 500 hour chart analysis

CLICK THE CHARTS TO ENLARGE
S&P 500 - 4 HOUR CHART
  • S&P 500 Futures four hour chart showing a channel formation with price taking support at the bottom of the channel.
  • The support line of the channel was tested today when price touched 1162. Bears would love to see 1162 broken, as that will break this channel which will be followed by good correction.

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