Wednesday, May 2, 2012

S&P500 - Can it stay alive?

Price is holding above my key level, although the reversal pattern i have been watching has a slight chance of survival...




Short term charts confirm the chances of survival for the bearish pattern as price drawn a clear divergence with the MACD (60m). Ok, also some oversold conditions point to a bull counter attack, as they are still fighting...

Longs must be aware of 1393 (1387/8 ES_F).






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