June 24, 2010

S&P 500 Hourly Channel

  • Above is the S&P 500 Hour chart with 50 Hour SMA and 20 Hour SMA.
  • The index is trading in a down trending channel.
  • Right now the price took support at the channel bottom line.
  • As long as the price remains inside the channel and below the 20 Hour SMA sell on rise can be continued

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