Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, February 21, 2012

S&P500 21st Feb 2012

Weekly Chart


Last week's doji fooled the bears once again.Bulls still have the upper hand. Rsi14 and Macd showing strength.Stochastics however has shown a negative divergence.

Daily Chart

The rising wedge resitance is at 1366 and support is quite close at  1347 shown with the red dashed line.Further resistance at 1371-1386 and support at 1336-1333-1300.Oscillators have failed to rise above the top made around the 9th of february.So expect some sideways to down correction before continuing the rise.

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Happy Trading !!

Lakshmi Ramachandran

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