Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, December 4, 2012

S&P500 4th December 2012

Daily Chart

 Resisted exactly at the 61.8% retracement level and closed below the uptrendline from 1074.The long upper shadow formed on the daily candle shows selling and a pullback may have started.

Retracement levels are 1405-1393-1383-1374. The previous swing low is at 1385 and the 50% retracement level is at 1383 which makes it a strong support level.

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Happy Trading !!

Lakshmi Ramachandran

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