S&P Technical Analysis and Profit Forex Alert 09-12-2013

We were long in S&P from 1788.20 when it started its upward journey from our support line located at 1783.20 and our green arrow appeared there to give us signal to buy. S&P hit our resistance line at 1807.70 with a profit of 19.50 and start short-term downward move this morning and it is now at 1807.90. The slope of movement of S&P is currently +39 degree upward and our sell arrow still not appeared on chart. However, our short-term trend is in sell signal. We will sell S&P only if our red arrow supports the short-term sell signal otherwise we are in buy from 1788.20. Initial support line is appearing now at 1788.48 and resistance line is painted at 1808.

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