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Om  Sri  Ganeshaya  Namaha
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Friday, June 14, 2013

S&P500 13th June 2013 - Excerpts from the daily analysis

Daily Chart

Daily Chart Showing Short Term Action

The downtrend continued taking support on the 50 Ema once again. Rsi14  is close to it's support line from December 2012. Holding this support is important for further upmove.Failing to hold will see support at the uptrendline from November 2012 at 1609.

A fall below 1609 - 1598  will see the downward momentum intensify. 

Any pullback will see stiff resistnace at  1622-1632.

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Happy Trading !!

Lakshmi Ramachandran

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