September 25, 2011

S&P 500 Weekend update

  • Important levels for bears are 1114 and 1101. Breaking below these levels will help bears to extend profits.
  • There is a possible support line in weekly chart which rises from 1011 and runs through 1101. If bulls are able to sustain above this line they may be able to push prices higher.
  • Another levels for bulls to take out are 20 day and 50 day SMA. Bulls will continue to feel the pressure if they sustain below these moving averages.
  • GOLD FALLING INTO WEEKLY CHANNEL
  • SILVER 50 WEEK SMA BREAKDOWN
By at

2 comments:

  1. golfdudeSeptember 25, 2011 at 11:04 PM

    @san,

    Nice stuff. You see the 20 go towards 50. This week seems crucial. It could fake out towards 50 early in the week and then a big fall. Sidelines till 50 breaks or short on rises till 50 seems to be my play here.

    ReplyDelete
  2. SanSeptember 25, 2011 at 11:23 PM

    @golfdude
    I am also expecting a bounce first before the next fall. But no bullish news is out yet which will trigger that up move.

    ReplyDelete

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