October 28, 2010

S&P 500 Below the trend line

  • Break of 1179.52 eventually led to the break of the resistance line.
  • Price has made a close above the resistance line which can lead to a continuation of this up move tomorrow.

CHART-I
  • S&P 500 is trading below the trend line in 15 minutes chart.
  • Strength can be seen only if price breaks and trades above the trend line.
  • Today Price is showing a range of 1171-70 - 1179.52.
  • Violation of either of these numbers can give good direction.
  • Break of 1179.52 may find resistance at the trend line.

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