Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, November 14, 2012

S&P500 14th November 2012

Daily Chart 

The Inside Day indecision resolved to the downside but only intraday.The close managed to keep the indecision going with a close above the low of 1373.The low made was at 1371 which is the 50% fibonacci retracement level of the rise from 1267 to 1475.The down trendling channel too has been good support.
200 day ema was however broken and the close was below it.

If the above mentioned supports are held and the S&P moves above the 200 ema a good bounce may ensue.

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Happy Trading !!

Lakshmi Ramachandran

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