November 27, 2010

SPY Weekend update

SPY DAILY CHART
WEEKLY CHART
  • SPY Daily chart has a triangle like pattern with price trading near the apex of the pattern.
  • Breakout of the pattern should take out 120 for favouring bulls and breaking 117 will favour bears.
  • Weekly chart shows similar price action at the top. Price breaking the horizontal support at 114 and the weekly supporting trend line will give large correction.
  • DOW JONES WEEKEND UPDATE
By at

4 comments:

  1. JTNovember 28, 2010 at 5:46 AM

    Hi San,

    I really like your blog and charts. I especially like the focus on the Indian markets. I have been traveling to India 5-6 times a year for the past 8 years and always been fascinated by the Indian market but never attempted to dip my toe into it. Do you trade US & EU markets as well?

    -John

    ReplyDelete
  2. SanNovember 28, 2010 at 12:47 PM

    Hi John
    Thanks for Your comment.
    I trade S&P 500 and Few Forex pairs.

    ReplyDelete
  3. golfdudeNovember 29, 2010 at 3:14 PM

    Good chart San.

    ReplyDelete
  4. SanNovember 29, 2010 at 6:52 PM

    Thanks golfdude

    ReplyDelete

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