Home > S&P 500, Technical Analysis > S&P 500 Technical Analysis for 12 February 2013 (1517)

S&P 500 Technical Analysis for 12 February 2013 (1517)

S&P 500 Forecast for 12 February 2013 (1517)

 

View:  Momentum can still push this to 1523/27 region with setbacks so far contained by 1495. A breach of the latter would put 1454/59 in sight but still not negate the overall positive momentum.

 

The strength shown by oscillators, %B, directional indicators, and MACD point to a continuation of the previous uptrend. However, there are some potential warning signs. Directional indicators are at levels previously associated with a change in trend. Oscillators, %B and MACD have been flat and the slope of the 9 and 21 EMA is increasing at a lesser rate. As such, 1523-1527 could be reached but is likely to offer a setback to 1495.  What happens here is crucial as the market has tried about 2 to 3 times to break this level.  Failure to do so, would see a swift resumption of the uptrend. A breach would send prices back to 1454 although a successful defense here would still support the overall positive picture towards the 2007 highs.

 

S&P 12-2-13

 

 

1576    12-Oct-07 H
1552    2-Nov-07 H
1527    Bollinger upper band
1524    138.2% retrace of Sep12-Nov12 decline
1523    14-Dec-07 H
1517    Spot
1509    9 EMA
1505    123.6% retrace of Sep12-Nov12 decline
1498    Bollinger MA line
1495    21 EMA
1495    4-Feb L
1474    14-Sep H
1469    Bollinger lower band
1459    50 DMA
1454    Short term trendline support
1435    Medium term trendline support
1407    Daily cloud upper
1406    Daily cloud lower

 

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