February 8, 2013

S&P 500 Analysis after closing bell

 
  • SPX One hour chart shows price in a possible diamond pattern. If the right side of this pattern is going to play out then we are in for some more boring contraction to continue.
  • Second chart shows price taking support at 100 Hour SMA. Bears need price to sustain below 100 Hour SMA and levels like 1498 and 1495 to break for a bigger correction to follow.
  • Last chart shows the weekly line chart. If the week finishes like this or lower it may favor bears for the coming weeks.
  • EURUSD CHART ANALYSIS
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