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| S&P 500 - End of Day - 19 April 2012 |
We had an intra-week update couple of days ago (click), where we had observed that, 'the Bulls had caught up'.
We also emphasized that, the field was wide open and that, none of the MAs had crossed above the others.
Index continues to be flat, Bulls just about hold on to some weekly gains.
We are below MVWAP 34 again, short term MAs in bear mode.
The yellow Day channel changes, consequent to price action, to include the last two candles.
MACD Histogram has moved into plus territory.
Based on present position, the last two weekly candles, show a Bullish Harami (with one trading day to go).
Index continues consolidating, one expects the MVWAP34 to be the decider, for a Bull move.
The white weekly channel line, supporting the price, should crack for the advantage to shift to Bears, in the medium term.
The white weekly channel line, supporting the price, should crack for the advantage to shift to Bears, in the medium term.
