June 6, 2012

S&P 500 Analysis after closing bell


  • Price closed at 200 day SMA. For an up move price must sustain above this level.
  • Immediate resistance level is the previous support which is 1291.98. 
  • Falling wedge shown with fibonacci levels for the last fall as resistance levels. Unless a breakout happens price is likely to get resisted near 50% Fib level.


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