June 14, 2010

SP 500 Hourly chart near a break out


  • Expecting to see some more red candles if the ascending trend line in the hourly chart is broken on the down side.
  • The chances of the index getting a support from this trend line cannot be ruled out as well.
  • So one can expect good action as the price converges between these two lines.
  • Lets wait for a break out on either side to take a safe trade.

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