October 8, 2010

S&P 500 Broadening pattern

CHART-II
  • S&P 500 Futures is approaching the top end of the pattern as discussed below.
  • Next likely targets are 1163 and if sustains above 1163 it can go up to 1166.
CHART- I   BEFORE OPENING BELL
  • Broadening pattern of S&P 500
  • Today the index made a low of 1146. Took support at 1146.
  • If that level holds that may be the low for this week. And the index may be heading towards the top end of the pattern
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