- Price staying above the trend line will continue to favor bulls.
- Bears need price to fall below the resistance line and close below 50 Day SMA.
- Bulls will extend the up move once they break above yesterday's High.
- Bears need to wait till the reversal is confirmed.
- S&P 500 ANALYSIS AFTER CLOSING BELL
- AAPL CHART ANALYSIS
- Apple is moving up and has closed the day above 50 day SMA.
- Next resistance level is the 20 day SMA.
- Price closing above 20 SMA can extend this up move.
- S&P 500 ANALYSIS AFTER CLOSING BELL
- Nifty is stuck between 20 and 50 SMA for today.
- Breakout on either side on closing basis may give a good trade.
- Price has closed above 20 day sma. If the corrections are limited to 20 day SMA we may see price closing above 50 SMA.
- For this up move to continue price should close and sustain above 50 Day SMA. Negative candles @ 50 SMA may lead to correction.
- Another important support level now is the month Low EMA. Sustaining above month Low Ema too may lead to higher targets.
- For bears they have to break below 20 SMA and month Low EMA for bigger falls to happen.
- S&P 500 EOD ANALYSIS
- Four hour chart shows price resistance near 1208 - 1210 levels.
- Daily closing looks good for bulls. Its a strong close above 50 Day SMA.
- Weekly chart too shows price about to enter stiff resistance zone between 1219 - 1227 provided price stays above 100 Week SMA.
