- Monthly chart with 20 SMA and Daily chart with 50 SMA is favoring bears right now. Price is holding above crucial moving averages in these time frames But is likely to break below it.
- Four hour chart is shown with Ichimoku cloud. If the cloud breaks then bears will be in control.
- Only hope for bulls is the last chart For this one too the handle should not retrace more than 50% for this pattern to work effectively. So today's low should be protected by bulls. Breaking today's low may lead to correction till Golden ration.
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
December 14, 2011
S&P 500 Analysis after closing bell
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I really like the charts! Keep it up.
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