Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, July 8, 2011

S&P500 8th July 2011

 Daily Chart

S&P500 was in a real hurry to break above the green neckline leaving a weak right shoulder behind. This makes the low of 1330.92 a minor support.The target now would be 1426.

The stochastics is in a sell in the overbought position and the Rsi14 too is overbought. This is also an evidence of strength especially since the bull candle yesterday was on good volumes.

Resistance now at 1356-1371.  Support at  1340-1330-1321.


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Happy Trading !!
Lakshmi Ramachandran

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