The S & P 500 broke through the support level yesterday Hourly following intra threats to cease stimulation markets in the form of a third quantitative easing.
Semi-annual testimony to Congress against Bernanke denied the rumors to stop stimulation and argued that as long as high unemployment and low inflation should continue to encourage the economy by channeling money markets.
However there are still concerns in the markets where 1/3 may apply to budget cuts of $ 85 billion in U.S. government causing negotiations between Republicans Democrats on cuts Source: welfare? Health? Security?
Technical level hourly chart shows
- The rising trend line broken down and later served as resistance - a sign of a teddy bear.
- Level of $ -1,500 constituted level of support for the S & P 500 broke
- Price also fell below the 200-day average.
- The 0 line of the MACD oscillator broke down and could not get back over the line again - indicating a loss of momentum in the market.
In summary - an attempt to return to above the support level for now but this failure makes sense because the U.S. market that is currently uncertainty on how to proceed.
However, as long as price is below the resistance level bearish signs in bullish signs up on what signals to us the down paved and all that is needed now is to wait Trigger markets would signal sellers who are ready with their finger on Hunter start to realize goods.