September 17, 2010

S&P 500 Broadening pattern

  • Broadening pattern of S&P 500. Within the pattern the index was trading in a range of 1118 - 1126. Today it gave a breakout above 1126 but could not sustain at higher levels.
  • Now if the index continue to trade above 1126 another attempt to close above 1130 levels will be made.

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