September 27, 2012

S&P 500 Analysis after closing bell

  • SPX Four hour chart shows support at 100 period SMA and Golden ratio.
  • 2nd Chart which is the daily time frame also shows crucial support between 1422 - 1426 which is the breakout level.
  • for bears price staying below 20 SMA should extend the fall towards the above mentioned support levels and breaking them could even extend the down move towards 50 Day SMA.

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