Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, October 8, 2012

S&P500 8th October 2012

Weekly Chart 

 Daily Chart 


S&P 500 still flitting above and below the resistance line of the rising wedge shown in red.The consolidation is within a flag, shown in blue on weekly charts, from which a breakout is awaited.The breakout on the daily charts from the pennant seems to be in danger with a doji candle having a long upper shadow which shows selling.A doji also indicates indecision to carry on with the existing trend.A bearish candle today will confirm the doji's bearishness.

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Happy Trading !!
Lakshmi Ramachandran

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