November 9, 2012

S&P 500 Analysis after closing bell

  • S&P 500 closed the day below crucial support level and most importantly below 200 Day SMA.
  • Next level to watch is if the week is going to make a close below 50 Week SMA which will add momentum for bears.
  • Daily chart is closer to 50% Fib level. If that does not hold spx may fall towards the golden ratio at 1346 levels
  • DOW JONES RISING WEDGE
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