January 30, 2013

S&P 500 Futures chart analysis

  • First chart the 4 Hour chart shown with the channel. Price continue to respect the resistance line of the channel But the corrections are small and the up move resumes.
  • Next chart one hour chart shows the classic technical analysis, Previous resistance is becoming support level.
  • For bears price must sustain below 100 Hour SMA for a meaningful correction to happen.

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