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$SPX: What next?

April 3, 2009

This chart is as of 1st April 2009. Note the important green box at the corner.

$SPX as on April 1 closing: On April 2 its breaks out of the greenbox and rallies higher than the previous highs of 825

April 1 made me cover my shorts when it hit the stop of 806 and rallied higher to close at around 814. On April 2, that is yesterday, it closed above the upper green trendline, even breaching the previous highs. I am long at 834 with stop of previous highs 825.

Note: This is a paper trade. My dear RBI doesn’t let me trade in int’l markets because…. Sitaram Yechury hates money,profits,traders,capitalism and development

Update:

The breach!

Note the “way higher” volume on 2nd April 2009. Its an up day!
(All the images are clickable and opens in a larger view)

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