Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, July 11, 2012

S&P500 11th July 2012

Daily Chart 

Formed an outside day with a higher high and lower low candle.The Outside day is a reversal pattern and shows a deceleration of the current trend which is down in the very short term.The big range of the outside day increases the possibility of a reversal. Look out for supports holding to see a change in trend. Support taken on the downtrendline on a closing basis supports the reversal view.

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Happy Trading !!
Lakshmi Ramachandran

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