S&P500 28th November 2011

 Weekly Chart

 Daily Chart

Broken decisively below the all important 1225 level.Taken support at exactly the 61.8% retracement level of the rise from 1075-1292. An inverted hammer at this crucial support on daily charts implies a reversal of the short term downtrend.

Lower targets /supports are at  1075-1052. Resistance at 1190-1210


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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com