Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, March 11, 2011

S&P 500 update --11th March 2011

 Daily Chart

Yesterday i wrote, " The range is getting tighter by the day as shown by the equilateral triangle.A breakout will occur soon to give direction.Till the bigger range of 1322 - 1294 remains unbroken trading will be difficult". 

The range broke down and took support at 1294. For the uptrend to resume a recovery above the green downtrendline at 1224 is required. If 1294 breaks then a test of 1254 is a possibility.

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Happy Trading !!
Lakshmi Ramachandran

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