Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, January 20, 2011

S&P 500 update --20th January 2011

 Daily Chart




The S&P500 finally relented  and formed a bearish morning star pattern. This is bearish top reversal pattern. Only a move above the high of 1296 will negate this bearishness.Negative divergences have been persisting since some time acting as alerts for a correction.

Supports at 1272-1262-1254.  Resistance at 1285-1290-1296.



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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com

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