April 17, 2012

S&P 500 Analysis after closing bell

  • Price made another attempt to stay above 50 Day SMA and failed.
  • Price is in the middle of a range between 1357 and a cluster of resistance on the upper side as shown in above charts.
  • Four hour chart also shows a possible bullish pattern. But price staying below 50 Day SMA will continue to give hope for bears for a possible breakdown.

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