April 6, 2012

S&P 500 Analysis after closing bell



  • price traded in a small range and closed below 20 Day SMA. 
  • Last chart shows the small range(1392 - 1401) just above 200 Hour SMA. Once price breaks out of this range we will get a bigger move. 
  • Breakdown below 200 Hour SMA should target 1386 levels.
  • An upper breakout should help bulls to continue the primary trend.
  • US DOLLAR NEAR RESISTANCE LINE