Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, April 18, 2011

S&P 500 update --18th April 2011

 Weekly Chart

Weekly charts show a downward bias with a lower high and lower low candle. Double top at 1339  gets confirmed only if the low 1249 is violated. Till then trade the range of 1344-1249.

 Daily Chart

Daily charts show recovery efforts on with a retracement of more than 50% of fall from 1349 to 1302.  If fails to trade above 1325 expect a test of 1302 .Till the lows of 1302 is held efforts to cross targets of 1349-1344 -1362  will be on.

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Happy Trading !!
Lakshmi Ramachandran

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