October 11, 2010

S&P 500: Range

CHART - II
  • The range of 1160 - 1164 has broken.
  • Trading below 1154 will favour the bears and chances are futures will move towards the lower boundary of the broadening pattern

CHART-I
  • S&P 500 Futures is showing a small range inside the broadening pattern.
  • 1160 - 1164 is the range. Break of 1164 may lead to 1169
  • Break of 1160 will be negative and may push the index to 1155 levels.

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