Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, October 29, 2012

S&P500 29th October 2012

Weekly Chart 

Daily Chart

The weekly  bearish candle proved the previous week's candle to be a shooting star.Having breken the 1422 support decisively, strong support comes at 1396 which is previous support and the 38.2% fibonacci level as marked on the daily chart.
The higher high higher low sequence will be broken only on a break of the 1267 low which is when the uptrend gets endangered. Till then look for oppurtunities to buy on dips.

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Happy Trading !!

Lakshmi Ramachandran

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