Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, April 16, 2013

S&P500 16th April 2013

Daily Chart

 The blue rising wedge was broken decisively and the close is below the 20 Ema and the red uptrending channel.This confirms the bearishness of the hanging man of Monday which appeared after resistance at the rising wegde resistance line was respected.The fall should continue and could test the february low of 1485.

Confluence of supports available at 1539.Need to see how bulls and bears play at this level.

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Happy Trading !!

Lakshmi Ramachandran

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