June 15, 2013

S&P 500 Weekend update

  • Thursday's up move got resisted at 20 Day SMA.
  • Price managed to close the week above 50 Day SMA But Friday's candle shows weakness which has also affected the weekly candle.
  • Last two weekly candles tested the up trend line, For now bulls are able to hold above it but price may break this trend line if gets tested again.