February 3, 2011

S&P 500 Analysis after closing bell

  • 30 Minutes chart shows a megaphone pattern. Price at the upper end of the pattern is in consolidation mode. 
  • Hour chart is also trying to create a bearish pattern a rising wedge.
  • But the weekly chart shows the effects of two bearish candles being erased by the weekly bullish candle.
  • GOLD INVERTED HEAD AND SHOULDERS PATTERN

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