S&P 500 update --14th March 2011

Weekly Chart

The long term uptrend  is intact till the uptrendline from March 2009 lows is broken. Support on this trendline at 1171 for the week.

 Daily Chart

The medium term uptrend seems to have started a correction. The first signal for  the start of the correction was the decisive break of the uptrendline from August 2010. Confirmation on a close below 1294 support and the 50 dema which is also around the same level.




follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com