July 28, 2012

S&P 500 Weekend update

  • SPX Daily with MACD histogram shows negative divergence.
  • Weekly chart shows a completely different picture with MACD about to give a buy signal.
  • SPX Four hour line chart shows price at a resistance line. So for next week we might get a pullback because of the negative divergence and a breakout in favor of bulls because of the weekly MACD.
  • Month chart shows price moving towards a possible resistance line. If macd buy works well price is likely to breakout above this resistance line to extend the up move.

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