January 6, 2011

S&P 500 Analysis after closing bell

  • SPX has given a bullish engulfing candle at the top of the trend.
  • This candlestick formation is a bullish pattern so we can expect the bulls to continue the trend.
  • Trend is so strong that even a 10 day moving average has given fewer whipsaws. From 1200 levels till now Price is staying well above 10 DMA.

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