S&P 500: Long Term View (or) Month Chart (each candle is 1 month's price move) (or) EOM Chart:
|S&P 500 - End of Month Chart (EOM) - 20 July, 2012|
S&P 500: Medium Term View (or) Week Chart (each candle is 1 week's price move) (or) EOW Chart:
|S&P 500 - End of Week Chart (EOW) - 20 July, 2012.|
S&P 500: Short Term View (or) Day Chart (each candle is 1 day's price move) (or) EOD Chart:
|S&P 500 - End of Day Chart (EOD) - 2 July, 2012.|
Learning from the Past Week: (click for last post)
Staying above the 5 EMA on EOW (3), Bulls did keep their turf intact as anticipated last week.
Reversing the Bearish cross of the 13 SMA and 5 EMA (on EOD at 5) midweek, Bulls picked up some momentum for the week.
Bulls kept up the pace - to get back above last month's close and the 'Three Inside up' on the EOM. (1) is active again.
Bears moved in late in the week to take some back, for the week (5).
Looking forward into the next Week:
The Bullish 'Three Inside Up' pattern seen on the EOM (1) is the beacon of hope for Bulls - they need to stay above last month's close, to keep this one shining.
The sliver of hope for the Bear, is the negative divergence on the EOD (6).
Keeping it below the 5 EMA on the EOD (5) - Bears can look at continuing their Friday's deep dive.
RSI readings on the EOW (4) climbing into the oversold zone and rising next week, is an indication that Bulls remain on top.