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| S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 05 July'13 |
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| S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 05 July'13 |
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| S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Nov'2012, onward - as on 05 July'13 |
Learning from the Past Week: (click here for the post)
Patterns:
- 'Three inside Down' on the Month Charts kept at bay, as the index stays above last month's close #M1.
- Bulls AGAIN bring up the index to the channel bottom #D1 - and get stopped in their pull back attempt.
- 5 EMA deflecting the 13 SMA, meet on the Medium term charts #W1 & we have a bullish cross of these MAs on the Day Screen #D1.
- July uses the Long Term 5 EMA as support #M1.
- Bulls close above the 13 SMA on the Week Charts #W1.
- RSI crosses above its and its MA while below oversold #W2.
- Oscillator nudges above the 50 mark #D2.
Bulls 'Pull back' to our identified resistance - Day Channel's Bottom Green Line #D1..and stop.. AGAIN
Looking forward into the next Week:
Patterns:
- Bearish Harami on the Long Term Chart #M1 could evolve into a bigger Three Inside Down.
- Bulls yet to clear off the Triple Top Threat conclusively ...
Support & Resistance:
- Day channel's, bottom green line #D1 remains the resistance for the Bulls.
- The 76.4% Fibonacci Retrace - remaining around the last consolidation cluster #M1, is good for Bears.
Moving Averages:
- Staying above the 5 EMA on the EOM #M1 - shows long term strength of the Bulls.
- 5 EMA & 13 SMA #W1 - Deflection is good for Bulls and Cross helps Bear Cause.
- Getting below the 13 SMA on the Week Charts #W1 important for Bears.
Indicators:
- #D2 above 50 and bullish cross at #W2, favors the Bulls.
Bears hope the Channel bottom LINE #D1 holds, Bulls call for a COMPLETE deflection of the 5 EMA and 13 SMA #W1.
