Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter!/lucksr

Monday, December 24, 2012

S&P500 24th December 2012

Weekly Chart 

Weekly charts continue to be bullish with each correction smaller than the previous one.The 1370-1075=295,  the  1422-1267=155 and 1474-1343=131.The bearishness of the shooting star made last week was not confirmed with a closing way above the shooting star's mid point.The close was also above the support line of the rising wedge.
Daily Chart 

 Daily Charts show a bearish bias with the neckline of the inverse head and shoulders being broken down.The recent high of 1448 needs to be taken out to indicate bullishness is regained.

 Happy Christmas !

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Happy Trading !!

Lakshmi Ramachandran

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