April 6, 2013

S&P 500 Analysis after closing bell

  • S&P 500 Daily chart took support at 38.2% Fib level.
  • Second chart shows price violating the up trend line But the horizontal support level at 1538 - 1539 managed to stop the correction for now.
  • Weekly MACD Lines are getting ready for a bearish cross But it need a clear trend line break as shown in the last chart. It may take one or two weeks before this range could resolve on the downside .