February 6, 2013

S&P 500 Analysis after closing bell

  • S&P 500 One hour chart shows the broadening top pattern still intact. Weakness near the resistance line may lead to a down move.
  • Price yesterday closed at the base of the cloud. This area acted as support for an up move.
  • Daily chart shows a trading range between 1495 - 1514 and crucial support at 20 day SMA.

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