S&P 500: Long Term View (or) Month Chart (each candle is 1 month's price) (or) EOM Chart:
|S&P 500 - End of Month Chart (EOM) - 23 November, 2012|
Above is the Month Chart - EOM - analyzing Data from mid 2009, onward
S&P 500: Medium Term View (or) Week Chart (each candle is 1 week's price) (or) EOW Chart:
|S&P 500 - End of Week Chart (EOW) - 23 November, 2012|
Above is the Week Chart - EOW - analyzing Data from Q4, 2011, onward.
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) - 23 November, 2012|
Above is the Day Chart - EOD - analyzing Data from Oct'2012, onward.
Learning from the Past Week: (click here for the post)
Staying above last week's close #1, #4 the '23.6% Fibonacci retrace of the Oct'07 High and Mar'09 Low' - one saw the Bulls returning fire - with a pull back to EOW channel bottom #3.
The last three candles on the EOM #1 continues to resemble a Three Inside Down - despite the Bull pull back.
Bullish cross of the 5 EMA and 13 SMA occur on the short term chart, as a result of the pull back.
Looking forward into the next Week:
23.6% Fib is seen as support for Bulls.
Currently the MVWAP 34 on the EOD #5 and the Channel Bottom of the EOW #3 are seen as resistances.
As follow up to the pullback - Bulls should break through back into the EOW channel - else the resistance here, gives Bears the baton.
If the Bears manage a Bearish Three Inside Down #1 then this pattern's performance, would decide the action for the last month of this year.