December 17, 2011

S&P 500 Weekend update

  • Price Moving down towards the base of the triangle in daily time frame.
  • Week candle closed above 100 Week SMA. If 100 Week SMA is protected by bulls we may see an up move.
  • Price closing above 50 Day SMA will give an up move towards the resistance line of the triangle pattern or the 200 Day SMA.