April 21, 2012

S&P 500 Analysis after closing bell

  • Daily chart has closed below both 20 and 50 day SMA. But price remained inside the bearish flag. 
  • 2nd chart shows price consolidation above daily ichimoku Cloud. Price yet to test the cloud.
  • One hour chart shows 50 Hour SMA below 200 Hour SMA a potential bearish setup But price need to confirm by breaking the support levels mentioned in the chart.

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