Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, August 17, 2011

S&P500 17th August 2011

 Daily Chart

Pullback to the rise from lows of 1101 resumed yetserday. Since the pullback was restricted to 38.2% the downtrend should have resumed.The 50 and 200 dema threatening a death cross if the fall continues.Shorts with a stop just above 50 % retracement level of 1236 can be initiated.

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Happy Trading !!
Lakshmi Ramachandran

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