Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, November 7, 2011

S&P500 7th November 2011

 Weekly Chart

The rising wedge on the weekly charts has been broken and attempts to recover have been on  for almost three months now.This keeps the medium term bearishness intact.Only a move above 1371 will negate this.

 Daily Chart

The rising wedge on daily charts has still not been broken making the possibility of one more leg up to resistance line.The Inside day candle pattern formed shows indecision in continuing with the uptrend from 1215.

Supports at 1241-1235-1214  Resistance at 1263-1284-1292

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Happy Trading !!
Lakshmi Ramachandran

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