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| S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 11 Jan '13 |
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| S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 11 Jan '13 |
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| S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Nov'2012, onward - as on 11 Jan '13 |
Learning from the Past Week: (click here for the post)
Channel top resistance #D1 was used by the Bears, to pause the Bull run just like we anticipated last week.
#D2 indicates that Divergence is developing on this up move.
On the long term charts - the %K & %D meet and cross bullishly as of now..#M2.
The last 4 candles on the Long term candles resemble a Bullish 'Three Inside up' and the results show, that the Bulls got some results.
Last week saw the Bulls hold their Highs - Bears saw the Day Channel top #D1, as a good resistance.
The Ellipses marked #M1, #W1 and #D1 indicate the hot spots on the long, medium and short term charts respectively.
As one can see - we are zooming into the action starting #M1 through #W1 and get up close in #D1.
Looking forward into the next Week:
Channel top resistance #D1 continues to be resistance for Bulls.
The MVWAP 34 on the EOD, #D1is the likely support.
STS position #2, in the oversold zone, indicate long term strength of Bulls.
Divergence on the Day Charts #D2 is good news for Bears.
Divergence on the Day Charts #D2 is good news for Bears.
Bulls retain control of all the three screens - Bears continue to depend on the short term Channel's 'red top line' #D1 along with divergence at #D2.
