Today we will analyze the index Madrid General Spain (SMSI) for internet stock trading in the INDICES stock market,
Stock Technical indicators to notice in Madrid General Spain (SMSI)
1- Last bearish trend was from 1,046.67 $ (2/25/2014) to 1,009.73 $ (3/3/2014) a 36.94 $ move 2- The current bullish trend started from 1,009.73 $ at 3/3/2014 and is currently trading at 1,042.48 $.
3- SMSI current support level is at 1,032.56 which is the 61.80 % fibonacci retracement of the last 36.94 $ move.
4- SMSI current resistance level is at 1,046.67 which is the 100.00 % fibonacci retracement of the last 36.94 $ move.
5- According to ADX Indicator, the trend is currently bullish,which is becoming weaker.
Madrid General Spain (SMSI) Short term stock chart patterns for internet stock trading :

6- The Index formed a 83.250 $ height triangle which was broken up at 1,044.340, target of the pattern is 1,127.590.
Madrid General Spain (SMSI) Mid term stock chart patterns for internet stock trading :

7- The Index was supported by a support line, identified by two points: 992.420 and 945.420, and is currently supporting at 1,028.026.
Madrid General Spain (SMSI) Long term stock chart patterns for internet stock trading :

8- The Index was resisted by a resistance line, identified by two points: 866.840 and 885.860 that was broken up at 854.010 transforming into a supporting line.

Stock Trading Conclusion:
Madrid General Spain (SMSI) was trading in a bullish wave, which is becoming weaker .
Technical indicators and stock chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy in online trading .

Stock Resistance Levels : 1,046.67, 1,056.72, 1,069.50, 1,127.59.
Stock Support levels : 1,037.67, 1,034.75, 1,032.56, 1,029.97, 1,028.20, 1,028.03, 1,026.10, 1,023.84, 1,022.24, 1,018.45, 1,009.73,.