Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, October 24, 2011

S&P500 24th October 2011

 Weekly Chart

Third week with a higher high and higher low in a row.The breakout from the downtrending channel was maintained , though intra week it had corrected into the channel once again.

Daily Chart

The struggle between the 50 and 200 dema proved to be a bull victory with a close above the 200 dema after more than 6 months.the close also sealed a successful cross of the 3 month range between
1210 - 1230.

Resistance at 1258 will be the next challenge.

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Happy Trading !!
Lakshmi Ramachandran

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