July 13, 2011

S&P 500 Analysis after closing bell

  • First chart is SPX daily time frame with 50 Day Moving Average.
  • Price has broken and closed below 50 DMA.
  • So correction may extend towards 1296 - 1297 level which is the Golden ratio for this move. And 200 Hour moving average is situated around here. So we may see price turning up again from these levels.

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