|S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 03 May'13|
|S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from OND, 2011 onward - as on 03 May'13|
|S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Nov'2012, onward - as on 03 May'13|
Learning from the Past Week: (click here for the post)
Bulls get another All Time High #M1.
Bulls avoid a long term Bearish Harami with a strong close for April #M1.
Bears lose all three screens to the Bulls.
5 EMA remains Bullishly above the 13 SMA all last week #D1.
RSI and its MA re-cross bullishly and peek back above oversold #W2.
Position of the STS and its MA #M1 - show Bull strength in the long term.
The 76.4% Fibonacci Retrace - now falls at the last consolidation junction #M1.
Bulls move to a new High..
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, bottom green line is support and the 'All Time High' the resistance for the Bulls #D1 & #M1.
Bulls would want to clear the Triple Top Threat next...
Keeping the price, above the 5 EMA on the EOW #3, bulls remain strong.
Triple Top on the Long Term Screen, remains the bane of the Bulls for some more time
Breaking the Day Channel's Bottom Green Line #D1 is the next task for the Bears...
Bulls look at improving the 'All Time High' - Bears see hope in the 76.4% retrace dovetailing with the last major consolidation junction #M1.