July 8, 2012

S&P 500 Weekend update

  • SPX has closed the day below 100 Day SMA.
  • 50 and 20 Day SMA is about to give a bullish crossover. Both moving averages are at the same level price may find support at this area.
  • Bulls lost the intra week gains and closed below 20 Week SMA. 
  • Weekly MACD at make or break level. We may see either a big buy signal or continuation of the prevailing sell signal as happened on the left side.