S&P 500 update 9th May 2011

 Weekly Chart

Daily Chart

Weekly charts show negative divergence with price resisting at the resistance line of the rising wedge along with a bearish outside day. The doji on daily charts with a long upper shadow exudes bearishness. The low of the week gone by, 1329 ,  should be good stop loss for longs.



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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com