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S&P 500 USA Technical analysis

18 may 2012

The Index found support at 1370 (daily 50 EMA and May 2011 high). Next major resistance is expected at recent high at 1422, followed by June 2008 high at 1440. In the opposite direction important support level is the 1340 level (previous bottom and 23,6% Fibonacci correction of the rise from 1073 to 1422), followed by psychological 1300 level.

Support 1339 1292 1125
Resistance 1422 1440 1500