September 2, 2010

S&P 500 intraday update

DAILY CHART
  • S&P 500 is trading near 50% fib ratio of its fall from 1129 to 1039.
  • Index is trading above 50 and 20 DMA right now.
  • 20 DMA has crossed below 50 DMA which will give some hope for the bears.
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