July 6, 2013

S&P 500 Weekend update

  • S&P 500 Managed to break and close above 50 Day SMA.
  • Price yet to break above the falling resistance line and price also will test the broken up trend line. Both these levels has to be crossed on  closing basis for an extended up move to happen.
  • Weekly chart with stochastic indicator shows a possible support line in the indicator. If the line is held we may see a bigger up move in SPX.

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