Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, December 16, 2010

S&P 500 update --16th December 2010

 Daily Chart

So the "chart obvious" happened and the S&P500 pulled back, confirming a short term top at 1247 with a much lower top and lower bottom bearish candle. A fall below 1230 which is the 61.8% fibo level of the fall from 1576 to 666 the March 2009 bottom, would signal more weakness.

The supports are at 1219 and 1200. Resistance at 1247.

Happy Trading !!
Lakshmi Ramachandran

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