August 18, 2012

S&P 500 Weekend update

  • Ascending channel and MACD Buy signal keeping the up move going.
  • Price and MACD Histogram continue to diverge without any effect on price. Bears are hoping for a double top kind correction from 1422 levels.
  • Last chart shows the possibility of 1422 level getting broken and a possible up move towards 1445 levels before a major fall could happen.

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