- S&P 500 is trading below its 20 Day Moving Average.
- A daily close below this average will be negative for this index.
- Last two times the closing below 20 DMA has given good results for the bears.
July 20, 2010
- Nifty spot daily chart is trading in a raising wedge and will give direction soon
- Nifty is also trading between the 5 day high and low ema for the last 3 days without giving proper direction.
- Nifty futures range is also contracting so i feel a big explosion is about to happen in the coming day's. May be the raising wedge will give an early indication to which side it is going to be.