Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter!/lucksr

Monday, July 9, 2012

S&P500 9th July 2012

Weekly Chart 

Made a higher high and low candle retesting the resistance line of the falling wedge. Support at 1342 needs to be held to keep the rally intact.The ongoing rally could be the leg up for the red rising wedge which has resistance at 1439. 

Daily Chart 

The bearish harami, mentioned in my post for 6th July, took it's toll and the S&P melted below the neckline.Supports now at 1344 and 1332.

follow me on twitter!/lucksr

Happy Trading !!
Lakshmi Ramachandran

No comments: