July 3, 2013
- SPX Daily chart shows the up move getting resisted at 50 Day SMA. Bulls need to close above this level to rise further.
- Price is also moving in a contraction triangle like pattern. Price movement will be limited or range bound till it remains in this pattern.
- Weekly MACD has a sell signal which will be effective only if price stays below 20 Week SMA. Bulls strong above the falling resistance line shown in last chart.