S&P 500: Long Term View (or) Month Chart (each candle is 1 month's price) (or) EOM Chart:
S&P 500 - End of Month Chart (EOM) - 30 November, 2012 |
S&P 500: Medium Term View (or) Week Chart (each candle is 1 week's price) (or) EOW Chart:
S&P 500 - End of Week Chart (EOW) - 30 November, 2012 |
S&P 500: Short Term View (or) Day Chart (each candle is 1 day's price move) (or) EOD Chart:
S&P 500 - End of Day Chart (EOD) - 30 November, 2012 |
Learning from the Past Week: (click here for the post)
Bulls avert a Three Inside Down #1, with the last candle (November) closing just above the October Close - That was a close one :)
Bulls also close it above the 5 EMA (#1) on EOM and MVWAP 34 (#5) on the EOD.
Bulls have their nose ahead and into the EOW channel #3.
%D and %K on the STS #2 look like they have crossed bearishly after all.
Bulls also close it above the 5 EMA (#1) on EOM and MVWAP 34 (#5) on the EOD.
Bulls have their nose ahead and into the EOW channel #3.
%D and %K on the STS #2 look like they have crossed bearishly after all.
Last week saw the Bulls maintain status 'quo on the medium term, and the Month Close retains Bull control of the Long Term Charts.
Looking forward into the next Week:
Averting a Bearish Three Inside Down #1 - gives the Bulls relief.
Bulls need to follow this up with the 5 EMA (# 3) crossing above the 13 SMA - a deflection however would show us that the Bears have the edge.
Keeping inside the EOW channel #3 - Bulls keep hopes alive.
Slipping out of the EOW channel #3 or more important below the MVWAP 34 on the EOD #5 - Bears have a clear run back to the '23.6% Fibonacci retrace of the Oct'07 High and Mar'09 Low' #1.
Bulls retained the edge by a whisker - now to see if the Bears can wrest the advantage back.