S&P500 at key resistance level

A look at the daily chart of SPY :

  • Currently testing the 50d MA at 130
  • Do we see a bearish trend with lower highs and lower lows ?
  • Global economy is improving, but we have some bad spots on the map : Japan, Lybia, unrest in other Arabian countries, Portugal calls for  help, …
  • Turning on that 130 level means testing the 125 level again

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s