|S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 25 Oct'13|
|S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 25 Oct'13|
|S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from July'2013, onward - as on 25 Oct'13|
Learning from the Past Week: (click here for the previous post)
- The short Term Channel Top resistance was cleared by the Bulls last week, new channel shown #D1. Month Channel Top (blue) is current resistance #D1
- 5 EMA on the EOD was the support #D1.
- Aggressive Bulls keep above all the EMAs/SMAs we track, all last week #D1.
- RSI 13 remains below the overbought #W2.
- Month Chart Oscillator remains below the over-bought, after the August Close #M2.
Bulls keep the 'Three Inside Up' in progress on the Long Term and make another new 'ATH'
Looking forward into the next Week:
Support & Resistance:
- 34 EMA and 200 SMA on the Short Term Chart are Support for the Bulls, while the 'All Time High' Line and the Channel Tops #D1 are resistances.
- Running above the 5 EMA on the EOD #D1 - shows momentum of the Bulls.
- RSI staying below the oversold, with its divergence to Price (arrow) #W2, plus for Bears.
- Stochastic 34 3 4 staying in the over bought zone, works for the Bulls #D1
Bulls expect that the 'Three Inside Up' #M1, forms in October - Bears see 'hope' in the Month Channel Top resistance (blue) #D1 .