March 20, 2012

S&P 500 Analysis after closing bell

  • Month chart shows price sustaining above 78.6% Fib level. It also shows a possible resistance level at 1440 area.
  • Weekly chart shows price nearing the broken support line of the rising wedge which may act as resistance.
  • Two short term charts 30 Minutes and one hour chart shows no weakness. Price has to fall below 20 Hour SMA or the trend line for a Dip to happen.
  • BANK OF AMERICA WEEKEND UPDATE

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