Update - End of Day 07 12 2011

As mentioned last weekend (post below) we anticipated some ranging around the Blue line - check out the Price line's tip which shows the same... Nifty also stayed above the 34 EMA... Failure by the Bulls to get going now, would invite the Bears to take a dash at our lower mark the Fib 61x ..

S&P End of Month November 2011

SP-500 End of Month Chart - End November 2011

Last Month's analysis noted that the S&P 500 plunging to our mark on the channel line..on the last trading day was bad news for the Bears....and so it turned out to be...this month we notice that the Price line is hugging the channel bottom and seems inclined to have another go at breaking it....1285 is the mark to beat, End of Month December 2011, for this to happen...

S&P End of Month - October 2011

SP-500 End of  Month Chart - End October 2011

Last Month's Post (from Mailbox)

On Tue, Nov 1, 2011 at 6:57 AM, @gmail.com> wrote:

Hi,

October 2011 ended...we wanted to see if the S&P (US) would pierce the Monthly channel line...see attached chart....on the last day of October, the index fell 2.5% :) to close in what looks exactly like a pullback to channel....leaving the Bulls real worried...(next hope is if November 2011 will close above 1266)...final reading for October 2011 is 1253 (double check with yahoo or other sites) and Bulls wanted the index comfortably above this level on month end ...