Pages

Friday, May 18, 2012

S&P 500 Analysis. 2012.05.18


This is the daily chart of the S&P 500 Index which shows the small distance until the H&S target at $1,292.

The previous analysis starting from early April suggested a bear correction high probability in spite of good earnings results but the brake and retest of the neck line (the purple trend line) from last week set a clear target zone in the $1,292 area (http://en.goldring.ro/analysis_details.php?analyse_id=2585).

The German DAX index recovered today some of the lost territory of last night and this could improve the market sentiment for the US session. However, the $1,292 still stands as a target for the short term.

       

No comments:

Post a Comment