- Microsoft weekly chart has hit the resistance line.
- Price has given a Pin Bar Formation in weekly chart it has come at the resistance line. Pin Bar's are powerful reversal candles.
- Daily chart with MACD bars is showing negative divergence. MACD may confirm a sell signal next week. Negative divergence may give good correction.
- One thing that's in favor of bulls is the presence of 200 DMA. So larger correction will be possible only at the break of 200 DMA.
- S&P 500 WEEKEND UPDATE
July 31, 2011
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