October 6, 2012

S&P 500 Analysis after closing bell

  • SPX One hour chart shows the possibility of a double top pattern. 
  • Second chart shows possibility of an Ascending triangle if the correction is limited to the black line.
  • Daily chart shows a range between 1422 - 1474. For next week trading above 1474 SPX is likely to hit 1500 levels and Falling below 1422 could test 1380 - 1390 zone. Daily time frame is likely to see sideways move till this range is resolved.

No comments:

Post a Comment