S&P 500 update -- 13th September

 Daily Chart

Signs of bullishness creeping in.

• 10 dema  has bullishly crosses the 20 and 50 demas.  
• Breakout above the  down trending line from the April 2010  highs of 1220.
• Daily macd above zero line and weekly macd given a buy.

But the bulls have to work overtime to get past  the neckline of the Inverse head and shoulder pattern around 1128-1131 levels for the diehard bears to surrender.

Resistance at 1115.80. Support at 1109.


Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com