May 4, 2011

S&P 500 Futures before opening bell

  • ES has broken below 50 hour moving average and is now threatening to break the 200 Hour moving average.
  • Price breaking and sustaining below 200 Hour moving average can give good correction.
  • Next support zone below 200 hour moving average is between 1335 - 1336 level.
  • Price sustaining above 50 hour moving average will favor bulls.
  • SPY HOUR CHART ANALYSIS

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