Saturday, May 23, 2009

Major Indices Big Picture

Major Indices Big Picture is badly damage as you see the 200 EMA & SMA acted as resistance. note that major indices failed to move above 200 SMA & SMA in daily time frame. If indices move above 200 EMA & SMA they have chance to move higher. In my opinion S&P500 is going to roll over at 940 or 1000 that coincide with 200 SMA(Monthly time frame)