October 4, 2010

S&P 500 hour chart with support line

CLICK THE CHART TO ENLARGE
CHART-II
  • Has taken support at 1127 as discussed in the below chart.
  • But one should also lookout for a possible head and shoulders pattern with price taking support at its neck line at 1127. Break of the neckline will be negative for the bulls .
  • If neckline continues to give support an up move towards 1134 can be seen
CHART - I
    • S&P 500 Futures has given a breakdown from the hour trend line.
    • Now 1127 in S&P 500 Futures can give support. If this level breaks then the correction may get deeper.
    By at

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