March 23, 2012

S&P 500 Analysis after closing bell

  • It was another negative day for SPX. Trend in hour chart is looking a bit damaged but Day and Week charts are looking strong.
  • Hour has broken below 50 Hour SMA. Hour trend will turn down on breaking below 200 Hour SMA.
  • Immediate Support level is between 1370 - 1377.  We have the 20 Day SMA, 200 Hour SMA and previous resistance levels in this area which may act as support on a correction.
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1 comment:

  1. viji1975March 23, 2012 at 7:34 AM

    Sir,
    Very Good Morning. Thank you very much for your kind action.

    Regards


    V.Vijayakumar

    ReplyDelete

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