Tuesday, March 9, 2010

SPX - Daily Market Report 10032010

Another green day today, but below 52 week high (1150.45).
Trend bullish all time frames but stay alert bearish divergence last high around 1145.
Hourly suport: 1132 and 1117
Close hourly below 1132 expect/target 1117 possible extension to 1105 again.
Daily Suport:1070 and 1078 , 1095, 1117
Resistance: 1150, 1163
Only reversal trend daily chart with close < 1095
RSI Daily bullish. Stochastic overbought daily and hourly
Tomorrow, 10 am Wholesale inventories and 2 pm Federal budget statement
Click to zoom in. Good luck


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