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| S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 17 May'13 |
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| S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 17 May'13 |
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| S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Nov'2012, onward - as on 17 May'13 |
Learning from the Past Week: (click here for the post)
Three inside down on the Weekly chart #3 - studied earlier - continued to bring the index down.
Bears get back the Short Term cracking the Channel bottom #D1.
5 EMA stays below the 13 SMA #D1.
RSI and its MA remain below oversold #W2.
The 76.4% Fibonacci Retrace - remains at the last consolidation cluster #M1.
On the Short term charts 5 EMA moves above then goes below the 13 SMA last week #D1.
EOM charts see the Bulls taking support on the 5 EMA #M1 for the second week.
On the Week chart - 5 EMA close to sliding below the 13 SMA next week #W1.
Bears break our identified support - Day Channel's Bottom Green Line #D1..
The Ellipses marked #M1, #W1 and #D1 indicate the hot spots on the long, medium and short term charts respectively.
As one can see - we are zooming into the action starting #M1 through #W1 and get up close in #D1.
Looking forward into the next Week:
Day channel's, bottom green line #D1 is now the resistance for the Bulls.
5 EMA on the EOM #M1 - is the next available support for Bulls.
5 EMA on the EOM #M1 - is the next available support for Bulls.
Bulls yet to clear off the Triple Top Threat conclusively ...
Moving the price, above the 13 SMA on the EOW #3, next task for bulls.
The 76.4% Fibonacci Retrace - remaining around the last consolidation cluster #M1, is good for Bears.
5 EMA crossing above or deflecting off the 13 SMA to be watched #D1.
Three inside down on the Weekly chart #3 - studied earlier - continues to be in play.
Bear hope remain on the 3 inside down #W1, Bulls hope for a deflection of the 5 EMA and 13 SMA #W1.
