December 5, 2010

S&P 500 Analysis after closing bell


  • MACD and price is showing negative divergence in daily chart which is slightly negative . But if price gives a breakout above 1227 this negative divergence will vanish.
  • Second chart shows SPX in a broad trading range with 1172 as low, 1227 as high and 1200 as middle point. Unless  S&P 500 gives a breakout next week this index will remain in this range with negative bias. A strong breakout can take SPX to 1250 levels initially.
  • GOLD MAY TEST THE ALL TIME HIGH

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