Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter!/lucksr

Friday, June 24, 2011

S&P 500 update 24th June, 2011

Daily Chart

Once again bounced from 200 dema support forming a hammer which indicates bullishness especially when occurs at key supports.The bounce from the key 200 dema support therefore indicates bullishness.However the fact that the pullback from 1258 was retraced more than 80% alerts one to wait for confirmation signals of the bullishness.Till the downtrendline from 1370 is not taken out chances of the downtrend resuming is high.

Resistance at 1298-1306-1324  Supports at 1262-1258-1233

follow me on twitter!/lucksr

Happy Trading !!
Lakshmi Ramachandran

No comments: