Sunday, December 11, 2011

S&P - End of Week - 09 Dec 2011

SP 500 - End of Week Chart - 09 Dec 2011

The Falling channel formed by the Weekly candles since May 2011, is depicted above...let's look at the last two candles....we have a critical resistance line that the next week's candle needs to fight, to keep the Bulls in business...we also have the possibility of a Evening star formation - if next week's candle opens below this week's candle - as a student of the markets let us then use this excuse to study this pattern at the link below...

So watch out for that resistance line and candle formation....peace!