Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, December 8, 2010

S&P 500 update --8th December 2010

 Daily Chart

New highs were made at 1235 but could not sustain creating a bearish upper shadow. 1229 which is the 61.8% retracement level of fall from all time highs 1576 to 666 continues to be resistance.Daily stochastics is overbought and can lead to a short term pullback.

Supports at 1220-1211-1204   and   Resistance at 1229-1235.

Happy Trading !!
Lakshmi Ramachandran

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