Thursday, November 18, 2010

SP500 Short Term - 200 Day SMA Consolidation - Reversing at 50 Day SMA


SP500 E-Mini Futures:
Yellow = 200 Day
Sell-off consolidating at 200day and 50% Fib level of previous high/low pivots.
Looking for continued sell-off with next major support being the 50day SMA at 1167 and the green trend line at 1150 which is part of the bigger weekly time frame triangle breakout as seen in my previous post.

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