June 1, 2013

S&P 500 Weekend update

  • SPX Closed below 20 day sma.
  • Next crucial support at 50 Day SMA. Daily MACD shows a sell signal. 50 SMA at 1600 has to break for the sell signal to gain strength further.
  • Weekly chart shows weakness after negative divergence. Weekly RSI falling below 70% line will help bears to extend the down move.

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