February 1, 2013

S&P 500 Analysis after closing bell

  • SPX One hour chart shows weakness as price falls below 20 and 50 Hour SMA.
  • Weakness in hour may move into the Daily time frame and price may test the rising support line or the 20 Day SMA as shown in the second chart.
  • Last chart shows MACD in daily time frame getting ready for a bearish cross which will be effective if price starts to trade below 20 day SMA.

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