Critical support level to monitor is 1,335
The support level of 1,335 is near the 50 day moving average. This is a key intermediate support level and automated trading systems are programmed to initiate sell orders went the level is breached by a predetermined amount.
Reference the previous chart analysis for the S&P 500 Index showing the upward sloping intermediate trendline.
Relevant articles picked from the Web:
- SEC says freezing assets of Nexen insider traders — MarketWatch — July 27, 2012
- Zynga Insiders Who Cashed Out Before The Stock Crashed — Daily Ticker — July 25, 2012
Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from BigCharts.com which I recommend and have used for fifteen years. The author of this article may hold long or short positions in the featured stock or index.
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