SPX - Weekly Market Thought 09072010

SPX index up this week 55 points and recover lost last week.
We alert last weeks key number weekly chart sitting at 1062. Bearish view was important:
- Stay next weeks below 1060;
- Confirm signal with a close below 1020;
- New dead cross.
Bearish view for now have to wait.
Next week key number change to 1058.

Indicators tell us:
RSI - Still bearish any bullish divergence.
MACD - Neutral area after correction 200 points from last high with  EMA cross - bullish -> this is bullish.

Next week important market hold above 1059 and attack nex resistances: 1093 and 1104.
Close below 1058 will give us another bearish alert and we can expect new test 1020 area.
Suportes: 1059,1019, 950 and 870.
Resistances: 1093 and 1107.

Can see here last thought daily chart
Can see here last update indexes and here last thoughts forex
Click to zoom in. Good luck folks.

SPX - Weekly Market Thought 09072010