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Angelo Grigoropoulos - Swiss Hellenic Group
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A view from the European perspective.
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  • S&P500 Technicals 0 comments
    May 1, 2009 6:46 AM | about stocks: SPY

    The June S&P 500 index closed higher on Thursday as it extended the rally off March's low. Profit taking tempered early gains and the low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, January's high crossing at 937.00 is the next upside target. Closes below the 20-day moving average crossing at 847.51 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 887.10. Second resistance is January's high crossing at 937.00. First support is the 10-day moving average crossing at 855.04. Second support is the 20-day moving average crossing at 847.52.

    Stocks: SPY
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