August 30, 2011

S&P 500 Analysis after closing bell

  • S&P 500 Closed above its 20 day moving average.
  • Price gave a breakout from the triangle pattern. But price has to sustain above 1208 levels for the triangle to give good profits for Bulls.
  • S&P 500 Fib levels shows price closing above 38.2% Fib level. If this level is protected then SPX may move towards its 50 Day Moving Average and 61.8% Fib level. Which is approximately near 1250 levels.

1 comment:

  1. Thank you San, I am hoping the sp will go up to the 1250 level. That would be a very good shorting time. Please read my blurb on the huge court vote in germany on the sept 7th with the bail out.

    All the best.