April 11, 2013

S&P 500 Analysis after closing bell

  • SPX Continues to move up staying inside the weekly channel.
  • The trend line break did not happened which might have given a MACD sell signal. Instead It acted as support for new high's to be made.
  • Daily chart shows the smaller corrections in the up trend getting support at 50 Day SMA.
  • Bears need to break the weekly up trend line and 50 Day SMA For a bigger fall to unfold. 

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