S&P500 – analysis by "X-twisted" indicator 24.05.2010
S&P500 hits 2 of 3 suggested bearish targets ( 1163.00 – 1.158.00 ) and closes the bottom price of 1151.60 (0.60 away from our third target).
According to the strong trend line (that served us as a support & resistance trend line) , stretched on 2 hour indicator's chart, we broke into the bearish zone and further down-trending market seems to be more probable.
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S&P500 – analysis by "X-twisted" indicator 24.05.2010
S&P500 hits 2 of 3 suggested bearish targets ( 1163.00 – 1.158.00 ) and closes the bottom price of 1151.60 (0.60 away from our third target).
According to the strong trend line (that served us as a support & resistance trend line) , stretched on 2 hour indicator's chart, we broke into the bearish zone and further down-trending market seems to be more probable.
Bearish targets : 1170.00 – 1164.00 – 1159.00 (1 - 2.5 trading days).