May 19, 2012

S&P 500 Analysis after closing bell

  • SPX is Approaching crucial support resistance levels in week and daily charts, 50 Week SMA. 38.2% Fib level and 200 Day SMA. If these levels are not taken out by bears a range bound week can be seen.
  • Hour chart is still trading well below 20 Hour SMA and cloud showing good momentum in favor of bears.

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