SPY Weekend update

DAILY CHART

• SPY daily chart is showing negative divergence with the hlep of the RSI indicator.
• But unless the price confirms, the negative divergence can last for weeks without giving any results 
• 117.60 levels seems to be a resistance area as 78.6% Fib level also lies here. So one can see a  move towards 117.60 levels next week and a pause there to decide the next direction.
• EURUSD: TREND IS YOUR FRIEND
  
  

Dow Jones analysis after closing bell

• Dow Jones has closed above the all important level of 11000
• Next target and resistance for the index comes at 11200
• The daily chart shows the strength of the trend with just one close below the 10 DMA from 10160 levels.
• S&P 500 ANALYSIS AFTER CLOSING BELL
  
  

S&P 500 Analysis after closing bell

• Daily has closed above the trading band of 1150 - 1160.
• Trading well above 10 day moving average.
• Weekly chart is also looking bullish after the successful break of 1150 resistance level. Closing too is near the high of the week giving optimism for the bulls.
• Next likely target for this index is 1210 there will be some resistance near 1170 levels.
• BROADENING PATTERN OF S&P 500