Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, November 15, 2010

S&P 500 update --15th November

Weekly Chart

On checking the weekly charts, found that the S&P 500 was up against very strong resistance  at 1220 and rightly reacted from the level. This level has been good support and resistance several times in the last six years ! The weekly has formed an " Inside pattern " which shows indecision. look for a break from the previous week's high or low at 1227-1177.

Daily Chart

Friday saw a decisive break below the uptrend line from 1040. Strong support is at 1182.Resistance is at 1210. Trade light till the cloud of uncertainity clears.

Happy Trading !!
Lakshmi Ramachandran

1 comment:

Sujatha said...

mm.. looks like u r trading silently in S&P , Marc faber is watching :) excellent chart mam, onceagain the TOP means... OMG. i am the happiest person :D