June 13, 2012

S&P 500 Analysis after closing bell

  • SPX Daily chart shows previous support band acting as resistance. 
  • Four hour time frame shows the falling wedge and IHNS patterns. Both are valid and will be strong as long as price stays above 1291 levels.
  • One hour chart shows price trying to sustain above 200 Hour SMA and resistance between 38.2% and 50% Fib level.

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