November 29, 2012

S&P 500 Analysis after closing bell

  • Weekly chart shows price taking support at 50 Week SMA and moving towards 20 Week SMA. Closing the week above 20 Week SMA would be perfect for bulls.
  • Daily chart shows price closing above crucial support resistance zone.
  • Next possible support in daily chart is at the 50 Day SMA and Golden ratio.

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