|S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 08 Feb'13|
|S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 08 Feb'13|
|S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Nov'2012, onward - as on 08 Feb'13|
Learning from the Past Week: (click here for the post)
Channel top resistance #D1, again - holds the Bulls, a smaller green week ensues.
#D2 and #W2 shows that Divergence persists.
#M1, #W1, #D1 - show us that the Month Channel's red top line, is almost at the price line.
5 EMA and 13 SMA on the EOD charts #D1, mildly deflect - cross still an option.
RSI #W2, moves into oversold.
Bulls remain on top on all the three screens as of now.
Bulls are on top but slow down a bit .. watch the Month/Day Channel's top red line #M1/#D1 and the Divergences #D2 & #W2.
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:
Day channel's, top red line #D1, continues to be resistance for Bulls.
The MVWAP 34 on the EOD, #D1is the likely support.
RSI #W2, causing another 'Lower High' is not good for Bulls.
Possibility of a MA cross or continuing deflection of the 13 SMA with 5 EMA on the Day charts #D1 worth watching.
Month Channel top #M1 assumes critical importance as the next major resistance to beat.
Month Channel Top is a critical resistance - #M1..