Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, May 17, 2011

S&P 500 update 17th May 2011

 Daily Chart

The Inside day pattern broke down and took support at the 50 dema and closed exactly at 1329  keeping market players on tenterhooks whether a lower low  is confirmed or not. Better to wait for a decisive break and close below the 1329 levels to confirm a lower low after a lower high at 1359

Holding 1327 will see a leg up to the down trendline from 1370. Supports and resistances marked on the chart.

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Happy Trading !!
Lakshmi Ramachandran

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