Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, April 16, 2012

S&P500 16th April 2012

 Weekly Chart

Bearish weekly candle closing below the breakout point of 1371 peak made in May 2011.Crucial support at uptrendline from 1075 lows at 1353 and low of the hammer formed on 9th March 2012 at 1340.Oscillators showing weakness moving down after showing negative divergence.

Daily Chart

Taken support on the trendline from 1075.Rsi14 and stochastics too have taken support on trendline which has proved support since August 2011.Macd is above zero line.A break of this trendline therefore should accelerate the down move.

Daily Chart II

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Happy Trading !!
Lakshmi Ramachandran

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