Markets

Candle analysis points to another positive close for Tuesday

The S&P 500 closed positive Monday as we predicted in our last candle analysis. It continued its move from Friday and tested the 1940 resistance. The resistance proved rather strong as the index attempted to get past it but fell steadily as the day continued closing around 1936. What stands out about this is the sellers did not gain control from the failure to close above 1940. The MACD is beginning to turn and both the RSI and Stochastic are coming from oversold territory. Combine these factors with our candle analysis, and we predict another positive close for Tuesday's trading. We predict the S&P 500 will again attempt to test the 1940 resistance and close either near it or that it will pass it and test 1950.

Dwayne Tucker is an individual investor in Akron, OH. He began is journey in 2006. After numerous investment mistakes, he followed a simple method to make consistent gains. He credits his achievements to hard work, self discipline and his hunger for education. From his experiences, he helps other beginning investors clear the difficult hurdle by teaching his simple technique. Dwayne helps run www.wincrease.com , which is dedicated to helping beginning individual investors.

This article was originally published on MarketIntelligeneCenter.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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