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| S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 27 June'14 |
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| S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 27 June'14 |
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| S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Jan'14, onward - as on 27 June'14 |
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Learning from last Week: (click here for the previous post)
Patterns:
- Week candle is a Doji #W1.
Support & Resistance:
- Index keeps above the 5 EMA on the Day charts #D1 and takes support near the 5 EMA on the Weekly #W1.
- Weekly Channel Top was resistance #W1.
Moving Averages:
- The 5 EMA and 13 SMA, stay deflected #D1
Indicators:
- RSI 13 in the over bought #W2.
- TSI continues holding above its crucial Fibonacci level #M2.
Wrap:
Bulls come back from the 5 EMA on the EOW to retain control of all Screens - Bears defend the EOW channel top #W1.
Looking forward into this Week:
Patterns:
Support & Resistance:
- 5 EMA on the EOW #W1 at a Index reading of 1944 is support for the week, while the Week Channel Top #W1 remains resistance.
Moving Averages:
- 5 EMA and 13 SMA currently deflected Bullishly - needs to stay that way for Bulls to break channel top #D1.
Indicators:
- Stochastic 34 3 4, staying back in the over-bought zone, works for the Bulls #D2.
Wrap:
Bulls want to crack the Weekly Channel Resistance #W1- Bear future lies below the 13 SMA on the Weekly charts #W1.
