May 5, 2012

SPY Weekend update

  • SPY Month chart is showing bearishness near the top bollinger band. Crucial support levels in month chart are the April Month low - 135.76 and the March Month low - 134.36.
  • Weekly chart has given a MACD sell signal. For bears to extend the fall price has to trade below 20 Week SMA.
  • Daily chart shows multiple levels which may give an oversold bounce - Lower Bollinger band, 100 Day SMA and the Swing low 135.76 - 135.94.
  • S&P 500 ANALYSIS AFTER CLOSING BELL


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