Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, October 4, 2010

S&P 500 update --4th October 2010

 Daily Chart

Trading was  within the rising wedge, keeping the push and pull act of the bulls and bears without a decisive result. Breakout point from the rising wedge and the green long term trendline from october 2007 highs is very close at 1159.65. A breakout would turn the scene bullish. This is a good possibility as the neckline of the Inverse Head and Shoulders is holding well on corrections.

The rising wedge is supposed to be bearish and has support at  1141.60.

Wait for the breakout in either direction and trade accordingly.

Happy Trading !!
Lakshmi Ramachandran

1 comment:

Sujatha said...

thank you mam.

Please check 'any shooting star" in SENSEX, if so, what does it mean?

thanks n advance