November 2, 2012

S&P 500 Analysis after closing bell

  • SPX Daily chart has moved above crucial support resistance zone But will find it tough to cross 1434 - 1436 zone.
  • 50 and 20 Day SMA are getting ready for a bearish cross at 1434 - 1436 zone. So if bulls are strong we should see a close above this level.
  • 30 Minutes chart sustaining above the cloud should help bulls to extend the up move.

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