Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, September 27, 2010

S&P 500 update --27th September

Daily Chart

A bullish candle recovering the entire fall of the last three days. The close too is the highest since the May bottom. A new upward sloping  channel has emerged shown in pink.Resistance from this channel is at 1151.
The S&P is really close to a breakout from the  downtrendline from October 2007 shown in green.A breakout from this down trendline will be really bullish.Resistance from this trendline is at 1159. Support at  1132 at the uptrendline from 1040.

Resistance at  1151-1159 Support at 1132-1122.

Happy Trading !!
Lakshmi Ramachandran

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