August 30, 2010

S&P 500 Hourly Trading range

  • 20 Hour moving average broken and the index is moving towards the lower end of the range as discussed below.
  • S&P 500 may trade in a range of 1039 - 1065 for sometime to come.
  • Right now the index is resting at the 20 hour moving average and below 50 hour moving average.
  • If 20 hour moving average does not give support index may move to the lower end of the trading range.

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