May 25, 2013

S&P 500 Weekend update


  • S&P 500 Weekly chart shows negative divergence. Price is showing weakness in weekly time frame but no sell signal yet.
  • Daily MACD shows a sell signal but has support at 20 week SMA and price support at 1636. These two levels has to break for a bigger fall to follow.
  • One hour chart is trading below the cloud. Bulls may gain strength on moving back above the cloud.
  • APPLE IN A DIAMOND PATTERN
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