February 23, 2013

S&P 500 Analysis after closing bell

  • Weekly chart shows its first bearish weekly candle after 7 consecutive green candles. The place of the red candle at a possible resistance line also look significant for bears cause.
  • Daily candle coming back to close above 20 Day SMA or Middle BB should give some relief for bulls.
  • Last chart the 30 Minutes time frame shows price near a crucial support resistance zone. Bulls may regain control above 1514 - 1515 level. 

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