July 7, 2010

S&P 500 Trading above 50 hour moving average

  • Now S&P 500 is trading above 1046 the earlier mentioned resistance. 
  • The index is also trading above its 50 hour moving average.
  • The most important thing for the bulls is to sustain above these points till end of day.
  • If they fail to hold on to 1046 and a place above 50 hour moving average bears will be back to sell this rally.
  • 1046 WILL BE HARD TO BREAK ON CLOSING BASIS CLICK HERE TO SEE THE CHART
By at

2 comments:

  1. mynacJuly 7, 2010 at 11:59 PM

    Dear San,
    U.S. markets were too over sold to react in only this manner.So Bulls are likely to hold 1046 even at the end.Let us see.

    ReplyDelete
  2. SanJuly 8, 2010 at 7:31 AM

    @mynac
    held on to 1046 and closed higher at 1060. good news for asian markets

    ReplyDelete

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