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
www.vipreetsafetrading.com
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