- SPX Daily chart shows price testing 50 Day SMA. Bulls of SPX need a daily close above this level to continue this up move.
- Four hour chart shows price nearing The Golden ratio and previous support level at 1357 - 1358 which may act as a resistance area.
- If price gets near 20 Week SMA this level too will be difficult to cross. We have a MACD sell signal in weekly chart. So for negating bearishness price need to trade above 20 Week SMA or face deeper correction.
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
June 19, 2012
S&P 500 Analysis after closing bell
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