(1347,70)The S&P confirmed already a 1350 overshooting; a daily closing above 1351,60 will support further strength toward the 1380 area. The indicators of the daily chart are still well positive but also still showing overbought conditions. The closing it confirmed last night aborted however the negative reversal we were suggesting. The indicators of the s/t charts are also positive supporting further strength. The s/t scenery but we feel the move up need a correction with still the 200 hours line at 1327,91 the attraction.
For the moment we remain short; we sell a 1360 overshooting to increase.
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Click here to read the full report: S&P500 02.09.12
FUTURE TREND RESEARCH