October 22, 2011

S&P 500 Weekend update

  • First Four charts shows bullish possibilities. SPX if holds 1230 will move towards 1245 - 1250 levels.
  • Fourth chart shows Developing negative divergence in Hour chart. Breaking the dotted trend line may give a correction. Higher time frames are looking bullish. Bearishness is developing in Hourly charts, Stochastic is in overbought territory. Bears should hope that negative divergence work well and drag price below 1230 and 1215 levels.

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