S&P 500 In Current Scenario 11/07/2012

SR. NO.	CHANNEL	START DATE	TOP	CENTER	BOTTOM
1	PINK	06/04/2012	1510.00	1463.00	1418.00
2	GREEN	10/04/2011	1526.00	1451.00	1374.00
3	RED	03/05/2009	1602.00	1440.00	1280.00
4	YELLOW	10/10/2007	1472.00	1284.00	1100.00

 

As mentioned earlier 1388.00 is a critical level for S&P 500 Index.

Chart show Regression Channel from start dates mentioned.

Currently we have breached the Pink channel are looking for support at the bottom of the green channel.

For any sizeable recovery the price action should move back in the Pink Channel...

Happy Trading !!!