January 20, 2012

S&P 500 Analysis after closing bell

  • Resistance line shown in Month chart is about 10 - 15 points away from the resistance line and daily chart is almost there.
  • The up move continues with negative divergence. Price yet to show any weakness though. May be when price hits the resistance lines in daily or the month charts shown there will be a reaction for the negative divergences that's happening.
  • US DOLLAR FALLING TO THE TREND LINE

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