November 5, 2010

S&P 500 Analysis after closing bell

SPX WITH GOLDEN CROSS
DAILY CHART WITH WHITE MARUBOZU
DAILY CHART WITH ASCENDING TRIANGLE
  • Unlike the death cross that spx had recently which did not do any favour for the bears, The golden cross seems to be giving good returns for the bulls.
  • The way the index closed. It nearly missed a white marubozu. a white marubozu shows the extreme conviction among buyers.
  • Third chart shows an ascending triangle breakout. Yesterday's closing above 1196 did gave a clue of what's going to come.

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