Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Sunday, October 10, 2010

S&P 500 update --11th October

 Daily Chart      

The S&P500 broke out   from the uptrendline of the red channel  as anticipated yesterday.This opens the possibility of a 30 point move which would be around 1194.The breakout from the neckline and from the green downtrendline from October highs is now confirmed with the breakout being maintained for a month and week respectively.

Resistance from the upper trendline of the rising wedge is at 1178.22. Support from the lower trendline is at 1151.

Supports are at  1157-1151-1138. Resistance 1174-1178-1185.

Happy Trading !!
Lakshmi Ramachandran

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