Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, November 30, 2010

S&P 500 update --30th November 2010

 Daily Chart

A hammer formed at significant support  --  the neckline and 50 dema raises hopes of a significant bottom having been established.The bullish hammer formation shows the bulls taking upper hand by pushing the prices to the top of the range at close.This reduces the confidence of the bears.

Today's trade would confirm whether the hammer is indeed bullish. A higher open and higher close today could be bullish for the days to come.

Happy Trading !!
Lakshmi Ramachandran

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