August 17, 2011

S&P 500 Futures stuck in a range

CHART-III UPDATED

CHART-II UPDATED
  • ES has given a breakout from the range. Price sustaining above 1202 will favor bulls to extend the up move.
CHART-I
  • ES is stuck in a range between 1177 - 1202
  • Price is also moving around 50 Hour moving average for quite sometime now.
  • So a breakout or breakdown from this range which means moving away from this moving average may result in a bigger move for ES.
  • GOOG FALLS BELOW 50 DMA
  • S&P 500 ANALYSIS AFTER CLOSING BELL

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