Shooting star candlestick at the resistance zone
S&P 500 Index 2-Year Weekly Chart
Candlestick chart analysis for the S&P 500 Index showing a shooting star candlestick and a hammer. This is a graphical representation of the index struggling to break resistance at the 1,425 resistance zone.
On a daily chart, you can see the 1,425 resistance zone in addition to the next near-term resistance level of 1,440.
A confirmed break above 1,440 would setup the S&P 500 Index for a test of major resistance at 1,470.
Reference the last chart analysis for the S&P 500 Index posted on November 23, 2012.
______________________________
Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. 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.
© 2012 TradeOnline.ca