April 3, 2012

S&P 500 Analysis after closing bell

  • The weekly bullish cross of 20 and 50 Week SMA continues to do well.
  • The hammer candlestick of daily time frame at 20 Day SMA too continues to do well.
  • Four hour chart shows a likely resistance line
  • One hour chart shows bearish engulfing setups near those trend lines which might result in a dip before  the next up move.

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