May 25, 2012

S&P 500 Analysis after closing bell

  • Daily chart shows candlesticks with lengthy shadows but very little progress on closing basis. Price yet to close above 10 Day SMA.
  • Hour chart shows a channel formation with price violating its resistance line. Moving above 1328.49 may give a short term up move.
  • Last chart shows a triangle pattern in 15 minutes chart with a possible 25 point move towards the side of breakout.

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