April 26, 2012
- Yesterday's dip found support at 20 Week SMA as shown in first chart.
- Second chart shows a potential bullish cross in the making. For this the weekly closing should be above 20 and 50 week SMA.
- Declining prices with falling volume will give hope for bulls for an up move.
- S&P 500 EOD UPDATE
ONE HOUR CHART
FOUR HOUR CHART
- One hour chart shows a possible double bottom formation. Price has to confirm the pattern by staying above the resistance level shown in the 2nd chart.
- Last chart shows price above 20 day sma. Sustaining above this moving average should result in a bigger up move.
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