After receiving good support from the 2120 level, the daily bar chart pattern of S&P 500 resumed its up move by crossing above its 20 day and 50 day EMAs and touching an intra-day high of 2180 on Thu. Sep 22.
However, it faced resistance from the blue down trend line and slipped down to close below 2165. The index gained 1.2% on a weekly closing basis and is trading above its three EMAs in a bull market.
Should bears get ready to throw in the towel? Not yet.
-- However, it faced resistance from the blue down trend line and slipped down to close below 2165. The index gained 1.2% on a weekly closing basis and is trading above its three EMAs in a bull market.
Should bears get ready to throw in the towel? Not yet.
Read more at:
http://investmentsfordummieslikeme.blogspot.in/2016/09/s-500-and-ftse-100-charts-sep-23-16.html
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