April 24, 2012

S&P 500 Analysis after closing bell

  • Last chart shows 50 Hour SMA below 200 Hour SMA. Up moves towards 200 Hour SMA will face selling pressure. 
  • Four hour chart shows price taking support near 200 period SMA and near recent swing low of 1357. Breaking below 1357 may target 1340 levels.
  • For bulls to regain momentum they should break and trade above 200 Hour SMA.

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