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| S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 21 December, 2012 |
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| S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 21 December, 2012 |
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| S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Nov'2012, onward - as on 21 December, 2012 |
Learning from the Past Week: (click here for the post)
Bulls fail to move back into the Week Channel #3 - Bears nudge them out on the last day of the Week #5.
Bullish Cross of the 5 EMA and 13 SMA on the EOW #3 - looks on.
Bullish Cross of the 5 EMA and 13 SMA on the EOW #3 - looks on.
Bullish Deflecton of the above MAs on the EOD #5 also occurs.
Index continues its slithering along, at or around the bottom line of the EOW channel #3, #5.
Bulls keep above the 34 MVWAP on the EOD #5 and EOW #3.
Bears close index above the critical 13 SMA on the week charts #3.
Last week again saw the Bulls and Bears maintain status 'quo on the medium term and short term - bulls go stronger into the next week.
Looking forward into the next Week:
Bullish Cross of 5/13 MAs on EOW #3 to be watched for, at the start of the next week.
Bulls need to move back decisively into the EOW channel to avert a slide #3.
Above the 5 EMA the Bulls retain Long Term strength #1.
Keeping above the 13 SMA the Bulls can finally gain entry back into the week channel #3.
Resistance continues at the EOW channel bottom #3, support is at the '23.6% Fibonacci retrace of the Oct'07 High and Mar'09 Low' #1.
Bears failed to take it down last week and now the Bulls look at breaking the impasse with a Bullish MA cross studied above.
