June 26, 2011

  • First chart is the weekly time frame with price near support area and near the weekly supporting trend line.
  • Daily chart shows price closing in on 200 DMA.
  • Seeing the above charts i feel the weekly trend line and 200 DMA is likely to hold the index and a bounce from these levels is possible.
  • S&P 500 WEEKEND UPDATE

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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore