April 28, 2012

S&P 500 Weekend update

  • SPX Daily chart looks good for bulls. If price sustains above 20 SMA it should hit the 1422 resistance level.
  • Daily macd has turned positive for bulls and price in weekly is moving away from 20 Week SMA which may delay the weekly MACD sell signal. Next hope for bears will be the recent resistance level of 1422.

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