Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, November 18, 2011

S&P500 18th November 2011

 Daily Chart

 Break down as expected ! Weakness was indicated by the break and close below the previous swing low of 1215 made on 1st November 2011.The 200 and 50 dema was sliced through easily.

Support taken at the 38.2% fibo level of rise from 1075 to 1293.If you are a bull you till have a chance to dominate in case a bounce from these levels occurs   else keep the crucial supports  at 1214-1190-1185 in mind to surrender to the bears completely.

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Happy Trading !!
Lakshmi Ramachandran

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