January 13, 2012

S&P 500 Analysis after closing bell



  • Month and daily chart shows different resistance line possibilities.
  • Month chart shows a possible resistance line hit at around 1330 levels for this month possible only if price sustains above 1292 levels.
  • Daily chart shows a similar resistance level hit at around 1314 level approximately.
  • Only the ascending triangle is giving a higher possibility.
  • For the above possibilities to work well for bulls price should hold on to the current gains till tomorrows close.
  • QQQ TREND UPDATE

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