Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, March 7, 2011

S&P 500 update --7th March 2011

 Weekly Chart

Weekly charts show indecision with a doji and an "Inside Pattern". Previous week's high of 1339 and low of 1294 become deciding breakout levels to show further direction.

Daily Chart

Daily charts show an ascending triangle indicating probability of breaking out on the upside is more . The breakout could take the S&P to 1370 levels. One could continue being long  with a stop at 1294 for a target of 1270.

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Happy Trading !!
Lakshmi Ramachandran

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