|S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 07 Mar'14|
|S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 07 Mar'14|
|S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Oct'2013, onward - as on 07 Mar'14|
Learning from last Week: (click here for the previous post)
- Bulls made a weekly 'Opening White Marubozu' near the ATH and got a continuum with a green week (see last two candles on the EOW) #W1.
- Bulls keep it above the 5 EMA on all charts and reach the Week Channel Top #W1.
- On the Day Chart, the 5 EMA and 13 SMA deflect #D1.
- RSI 13, continues to meander in the 60s #W2 while the Oscillator on the long term chart peeps into the over-bought zone #M1
Bulls control all Time Frames. Bears defend the Week Channel top #W1
Looking forward into this Week:
Support & Resistance:
- MVWAP 34 on the Day Chart #D1, is now support for the Bulls, while the Week Channek Top #W1 is resistance.
- Bears need to get the index below the 13 SMA (1828) #W1 to get back into the game - Bulls seek continuum to a new ATH #M1.
- Stochastic 34 3 4, staying in the over-bought zone, works for the Bulls #D2.
Bears hope to defend the Week Channel top - Bulls want the momentum, to continue making new ATHs.