August 21, 2013

S&P 500 Analysis after closing bell

  • SPX Daily chart shows price up move getting resisted at 50 Day SMA.
  • 2nd chart shows price sustaining at the bearish part of the channel and may extend the fall if unable to close back above 50 Day SMA.
  • Weekly chart shows crucial support at 20 Week SMA (1639). This level has to be taken out on closing basis for  a bigger down move to follow.

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