August 6, 2011

S&P 500 Analysis after closing bell

  • S&P 500 Week took support at the cloud. And this seems to be working in favor of the bulls. But towards the close it closed flat giving no major gains to bulls and bears.
  • Daily chart shows it might reverse the trend. But one need to look at 30 minutes time frames to see if the trend is changing in shorter time frames.
  • 50 period moving average and cloud in 30 Minutes is yet to be captured by bulls so these levels will act as resistance on a reversal attempt.
  • S&P 500 SUPPORT LEVELS

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