Learning from the Past Week: (click here for the post)
Bulls get above our mark of 5538, the 13 SMA on EOM #1, early in the week and follow it with a bounce.
Position of the STS on the EOW, gave the Bulls support #4.
The Bulls take over the Short Term screen and also move the EOW screen to neutral zone.
Position of the STS on the EOW, gave the Bulls support #4.
The Bulls take over the Short Term screen and also move the EOW screen to neutral zone.
Bulls are stopped by the 13 SMA on the EOW #1.
Price heads back to the 76.4% Fibonacci retrace of the Jan'12 low to All time high #5.
MACD histogram ticks up #6.
Index gets above the 200 SMA and 50 SMA last week #5.
MACD histogram ticks up #6.
Index gets above the 200 SMA and 50 SMA last week #5.
Taking support near the 13 SMA on the Month Charts - Bulls make a seriously vigorous intra-month bounce #1.
Looking Forward into the next Week:
50 SMA and 200 SMA, convergence towards a death cross to be watched #5.
Getting below the 5538, the 13 SMA on the Month Charts #1 for the rest of the month, is important for Bears - to continue the fall.
Bearish Cross of the 5 EMA and 13 SMA to be watched for #5.
Bulls look to get above the 13 SMA on the Week Chart #3.
Support for the coming week is the 61.8% Fibonacci Retrace of the Jan'12 low to All time high #5.
Day channel top #5 and 13 SMA on the EOW #3 are the resistances.
The Three Outside Down's effect pauses, if the Bears cannot get below 5538 (EOW).
