My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
December 20, 2012
S&P 500 Analysis after closing bell
SPX One hour chart shows weakness But price yet to break below crucial supports like Hourly cloud. Bigger falls can be seen if Hourly cloud does not hold.
4 Hour chart too shows price above the neck line of the inverted head and shoulders pattern.
Daily chart almost gave a Dark Cloud cover pattern. If the opening was slightly higher for the day candle we should have had a perfect Dark cloud cover pattern. Now for bulls price must sustain above the falling resistance line which was broken earlier.
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