Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, September 26, 2012

S&P500 26th September 2012

Daily Chart 

 The breakout from the rising wedge was confirmed and made decisive with a huge bearish candle which resisted at the support line of the rising wedge.Having broken and closed below the 38.2% retracement level The S&P should test  the 50% level at 1435. Holding the neckline at 1428.50 is important for the uptrend.61.8% level is at 1426 so this level should provide good support.

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Happy Trading !!
Lakshmi Ramachandran

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