September 30, 2010

S&P 500 BREAKOUT

CHART-III
  • Could not sustain above 1150 the breakout has failed
CHART-II
  • The breakout shown in the below chart should sustain above 1150 otherwise this will be a failed breakout.
  • Another attempt with good volume may do it for the bulls. If the volumes are low it's not going to sustain above 1150.
CHART-I
  • S&P 500 Futures has broken out of the triangle pattern
  • Index has also given a breakout above 1150.
  • Bears would be hoping for a false breakout which may happen if the index starts to trade below 1150 again.
  • First target for this breakout would be 1160 provided this is not a false breakout.

2 comments:

  1. Its a failed break out.. Dow down 100 pts from high...

    ReplyDelete
  2. That's Right Hari
    I have updated the charts

    ReplyDelete