December 19, 2011

S&P 500 Trend update

  • SPX is close to its support level of 1209.47. Break below it may give good move in favor of bears.
  • Price is below hourly ichimoku cloud. Price is also staying below important moving averages. So the hourly trend is in favor of bears for now.
  • For bulls price should breakout above crucial moving averages and the hourly ichimoku cloud.

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