April 24, 2013

S&P 500 Analysis after closing bell

  • SPX Daily chart shows price in a range and Moving towards the top of the range.
  • Daily channel shows price closing into the bullish part of the channel. Recent instances like this has resulted in an extended move in favor of bulls. For this to happen Bulls need new high's on closing basis.
  • Weekly chart shows RSI moving sideways as price moves up within this range. If new highs does not happen we may see a breakdown soon.

No comments:

Post a Comment