- BAC Weekly chart shows resistance at 20 Week SMA.
- Price also near falling resistance line and Horizontal resistance zone of 8.20 - 8.35
- Daily chart has a golden cross which will do well if the range shown in last chart gives an upper breakout. Breakdown from the range will negate the bullishness of this crossover.
- SPY WEEKEND UPDATE
August 12, 2012
- SPY Daily chart shows negative divergence with price and MACD Histogram.
- If the channel is intact this steady up move will continue. For bears need a channel breakdown for a bigger correction to happen.
- Weekly resistance levels for the coming week are 142.21 and then the resistance line of the pattern shown in last chart which is near 144 levels.
- QQQ WEEKEND UPDATE