Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, September 4, 2012

S&P500 4th September 2012

Weekly Chart

A second doji in a row.The trend seemed clearly down though the previous week's low was not violated.Negative divergences are intact on the oscillaotrs indicating a sideways to down movemnet in store for this week.

Daily Chart

A descending triangle seems to be forming which is  bearish in nature.Support at 1397 should hold else could break below the uptrendline which has support at 1380.Oscillators too showing weakness.

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Happy Trading !!
Lakshmi Ramachandran

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