- 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.
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
July 28, 2012
S&P 500 Weekend update
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