Saturday, January 28, 2012

S&P 500 - End of Week Analysis - Déjà vu ?

S&P 500 - EOW Analysis - End of Week  Jan' 23-27, 2012
Last week (post here) we saw the Price pull back and break into the Monthly channel's bottom line(red) - shown encircled above. 

This week's candle is a Doji. The combination of the last two candles remind one of a Bearish Doji Star (studied on the Nifty here), the channel in white is the one the S&P 500 follows now. Earlier channel is in blue. 

The Month's targets remain relevant. Intra-month movement by the price into the red Channel is same as in Nov'11.