Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, October 7, 2010

S&P 500 update --7th October

 Daily Chart

Candlesticks speak out  and  today's doji at resistance shows hesitation at resistance. this does not augur well for the present trend which is up.  Oscillators are in negative divergence.

Breakout from the neckline and the green downtrendline is still held and  the "pushing down"  of the prices is not severe.This keeps the short term trend still UP.

Caution is the word at crossroads.

Supports are at    1157-1143-1135.            Resistance at 1163-1174.

Happy Trading !!
Lakshmi Ramachandran

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