March 5, 2011

DIAMOND pattern of S&P 500

CHART-II
  • Diamond of SPX mentioned below on 5th of this month has given a breakdown in favor of bulls. Now price should sustain below 1294 for bears to extend gains.
CHART-I
  • Diamond pattern of SPX in Four hour time frame
  • Diamond breakdown at the top of the trend can give good gains for bears.
  • This one if breaks the support line has to break and sustain below 1294 for the pattern to work properly.
  • Breaking above 1333 will favor bulls.

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