January 26, 2011

S&P 500 Analysis after closing bell

  • Bulls staying above 1292 may push the price higher. 
  • Price momentum in the final hour favours bulls to make a new January high.
  • Price closed above 50 hour moving average.
  • 1280 is the support level for bears to break to gain downward momentum.
  • Price has closed above 78.6% Fib level of the recent fall, it looks like the price momentum may take it above 1292 and 1296 shortly.
  • EURUSD NEAR GOLDEN RATIO

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