October 20, 2011

S&P 500 Futures Analysis

  • First chart is ES four hour time frame with 50 Period moving average. Today's fall has been stopped at 50 period SMA for now.
  • For bears 50 period SMA has to be broken followed by a breakdown from the range shown in second chart.
  • For bulls this dip towards 50 SMA is a good opportunity to buy. But bigger moves can happen only when this range gets resolved.

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