|S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 13 Dec'13|
|S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 13 Dec'13|
|S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Oct'2013, onward - as on 13 Dec'13|
Learning from last Week: (click here for the previous post)
- Bullish 'Three Inside up' #M1, on the Long Term Charts kept November green - December honors are with Bears.
- Index fell out of Day Channel, Pulled back from Support to last week's Channel Bottom, and then crashed below the MVWAP 34 #D1.
- MVWAP 34 on the EOD #D1 was the support Bears cracked last week to take the Short Term screen.
- Bulls keep December candle clear of the 5 EMA on the Long Term Charts #M1.
- EOD 5 EMA ends below the 13 SMA despite Bull attempts intra-week #D1.
- RSI 13, manages to stay in the overbought #W2.
- Month Chart Oscillator remains below the over-bought, after the August Close #M2.
Bears Cash in after spoiling the Bull Party - Bulls keep nose above 13 SMA on the EOW #W1..
Looking forward into this Week:
Support & Resistance:
- 200 SMA and EOD channel Bottom on the Short Term Chart are Support for the Bulls, while the 'All Time High' Line and the Channel Top #W1 are resistances.
- Bulls need to get above the 5 EMA on the EOW (1785) to gain some traction #W1.
- If a Bullish re-cross of the 5 EMA and 13 SMA, happens this week, along with above would give Bulls direction going forward.
- Stochastic 34 3 4 heading to the oversold, works for the Bears #D1
Bulls see life above 1785 and trust the 'Three Inside Up' #M1, helps make December green - Bears look to take the Index below the 13 SMA #W1.