14/09/2012

SP500 jumps 20 points on Fed news to close at 1.459.62 Thursday.

SP500 monthly chart from 1985 until now. We are 105 points from the all time high at 1.564.43. From current level 1.459.62 there are many resistance points now which can slow down further immediate advancement.
Today Friday there is a weekly R point at 1.477. The picture with three tops looks like 1962 to 1974. I will come back to that later depending on the chart.

Here is the daily bar chart showing yesterdays rally and today's trading in Asia now. The uptrend has a strong momentum but I would not be surprised if profit taking sets in later today. The 2 hour trend is very strong on upside and further advancement is possible when Europe opens in 2,5 hours. 

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