July 29, 2011

S&P 500 Analysis after closing bell

  • SPX Daily time frame shows a likely hit @ the 200 DMA if 1295 does not hold.
  • If 1295 holds we may get an up move soon.
  • Hour chart is looking weak as Hourly 200 Moving average is acting as resistance.
  • 30 minutes char too looks bearish. As price is trending down below the cloud.

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