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| S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 26 July'13 |
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| S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 26 July'13 |
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| S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Nov'2012, onward - as on 26 July'13 |
Learning from the Past Week: (click here for the previous post)
Patterns:
- Bulls look at saying 'bye bye' to the 'Triple Top Threat' keeping the new Highs #M1
- Bulls consolidate around their new Highs #W1.
- Index has also the Day channel Top, Week Channel Top and Month Channel Top as resistances to clear #M1,#W1 & #D1.
- July uses the Long Term 5 EMA as support #M1.
- Bulls keep above the 13 SMA on the Week Charts #W1.
- Index slips below the 5 EMA on the EOD charts, midweek #D1.
- 5 EMA and 13 SMA on the Day charts #D1 poised to deflect or Cross..
- RSI 13 slides below oversold & Divergence to Price is apparant #W2.
- Stochastic 34 3 4 (now on EOD) stays oversold, MA crosses below it #D2.
- Oscillator (now on EOM) pops into oversold - see earlier pops too #M2.
Bulls stick around their 'All Time High'
Looking forward into the next Week:
Patterns:
- Bulls almost clear off the Triple Top Threat conclusively ...
Support & Resistance:
- New All Time High (July'13) and all the Channel Tops Red, Blue and White #D1, are the next resistances for the Bulls.
- The 76.4% Fibonacci Retrace #M1 - is the next major support.
Moving Averages:
- Staying above the 5 EMA on the EOM #M1 - shows long term strength of the Bulls.
- 5 EMA & 13 SMA #D1 - Deflection good for Bulls. - Cross would be good for Bears.
- Getting below the 13 SMA on the Week Charts #W1 important for Bears.
Indicators:
- Oscillator #M2 keeping above oversold unlike past instances .. favors the Bulls.
- RSI sliding below its MA #W2 - would be good for Bears.
Bears hope one of the Channel Top Resistances hold, Bulls call for a new High and more #M1.
