July 8, 2010

S&P 500 Analysis after closing bell

HOUR CHART

DAILY CHART

HOUR CHART
  • I was expecting 1046 to put up a fight against the bulls but that was blown away in seconds.
  • Now in daily chart it has captured the 10 DAY moving average.
  • Next resistance will be around the 20 DAY moving average. still trading below 20 and 50 DMA which will be selling points. 
  • The hour chart is also showing a possible 20 hour moving average crossing 50 hour moving average which will also add some more bullishness to the index.
  • SHOWED  POSITIVE DIVERGENCE YESTERDAY CLICK HERE TO SEE THE CHART

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