Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, December 2, 2010

S&P 500 update --2nd December

 Daily Chart

A bounce off the 50 dema and the neckline proved bullish and the day ended with a bullish candle breaking out of resistance at 1200. The rise has stopped exactly at the 63.8% retracement level of the fall from 1227 to 1773. Sustaining above this level is necessary for achieving the target of 1227 which is  the top made in November 2010.

 Support at 1200-1195-1190-1187.

Happy Trading !!
Lakshmi Ramachandran

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