February 21, 2013

S&P 500 Analysis after closing bell

  • SPX Daily chart shows price falling from upper bollinger to close near Middle Bollinger band(20 Day SMA.)
  • 2nd chart is the weekly time frame which finally starts to show weakness after hitting the resistance line yesterday.
  • Last chart shows potential bearish setup which has worked well in the recent past. Price closing below 20 Day SMA may extend gains in favor of bears.

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