Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, June 5, 2013

S&P500 5th June 2013

S&P 500

The uptrending channel is intact and gives scope of a high at 1720. Support is at 1335. Oscillators are showing strength and have reached the overbought region.This shows bull strength continues to dominate in the US markets.

Daily Chart with Oscillators

Daily charts show Oscillators close to medium term supports. The red horizontal line shows support taken since  31st December 2012 when it dipped for a day below the 50 Ema. The subsequent two times it took support at the 50Ema. In short  the 50 Ema at 1606 would work well as the trend decider.

 Will it take support this time ?

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Happy Trading !!

Lakshmi Ramachandran

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