Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, December 17, 2010

S&P 500 update --17th December 2010

Daily Chart

Though it was an up day,  point to be noted is it was a lower high and lower low. The negative divergences on oscillators persist. 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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