Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Sunday, September 12, 2010

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

1 comment:

Sujatha said...

Oops.. mm DOW also closed in 200 dma.

Coming week is big headache for bears.