S&P 500 (JUN) 05/04/2011: A crossover down in the daily stochastics is a bearish
signal. Momentum studies trending lower from overbought levels is a bearish
indicator and would tend to reinforce lower price action. The close above the 9-day
moving average is a positive short-term indicator for trend. It is a slightly
negative indicator that the close was under the swing pivot. The next downside
objective is 1339.83. The next area of resistance is around 1358.25 and 1364.42,
while 1st support hits today at 1345.95 and below there at 1339.83.EURO (JUN) 05/04/2011: Momentum studies are trending higher but have entered
overbought levels. A positive signal for trend short-term was given on a close
over the 9-bar moving average. It is a slightly negative indicator that the close
was under the swing pivot. The near-term upside target is at 149.45. The market
is approaching overbought levels with an RSI over 70. The next area of resistance
is around 148.81 and 149.45, while 1st support hits today at 147.45 and below
there at 146.74.
Breaking 1.4875 the movement is bullish to 1.5144 for the eur/usd in forex
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