July 27, 2013

S&P 500 Weekend update

  • Daily chart managed to close above crucial resistance levels. 
  • Daily line chart with parallel lines or channel shows price near resistance line.
  • Daily MACD is moving towards a sell signal. Price falling below 1671 may lead to a fall. Longs possible above 1698 But Risk reward ratio does not look good for bulls at this stage.

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