October 26, 2012

S&P 500 Analysis after closing bell

  • Crucial resistance levels was the previous support zone of 1422 - 1426
  • Crucial support zone for bears to further gain ground is 1396 level and 100 Day SMA.
  • 30 Minutes chart shows price doing a range and below the cloud. For a bigger bounce price should get back above the cloud. Sustaining below the cloud should favor bears for more breakdowns.

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