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| S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 06 Sept'13 |
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| S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 06 Sept'13 |
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| S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from July'2013, onward - as on 06 Sept'13 |
Learning from the Past Week: (click here for the previous post)
Patterns:
- Bullish Harami forms on the Medium Term Charts #W1.
- The 'Three Inside Down' that we studied on the weekly charts gave the Bears 4% downside honey #W1.
- Index closes at the 13 SMA on the Week Channel #W1 which was resistance for Bulls on the upside.
- The Long Term 5 EMA was support for the Bulls on the way down #M1.
- 5 EMA and 13 SMA cross Bullishly on the EOD charts #D1.
- On the EOW - 5 EMA and 13 SMA touch #W1.
- Index keeps above the 5 EMA on the Long Term Charts #M1.
- RSI 13 peeks above the 50 mark - MA hugging the RSI #W2.
- Stochastic 34 3 4 bounces from the over-sold #D2.
- Oscillator remains below the over-bought, after the August Close #M2.
Bulls bring the Short Term Screen to No Man's Land - Bears fight to keep the 13 SMA #W1.
Looking forward into the next Week:
Patterns:
- On the Medium Term Chart the Bullish Harami seen above - could become a 'Three Inside Up' #W1- study links here, here or elsewhere.
Support & Resistance:
- 34 MVWAP on the Short Term Chart is the next resistance for the Bulls, while the 5 EMA #M1 is the Support..
- Beyond these the 76.4% Fibonacci Retrace #M1 - is the next major support and the Last All Time High is the resistance seen, #M1.
Moving Averages:
- Staying above the 5 EMA on the EOM #M1 - shows long term strength of the Bulls.
- 5 EMA & 13 SMA on the Medium Term Charts #W1 - poised to deflect Bullishly or cross Bearishly by EOW - to be watched.
- Closing above the 13 SMA on the Week Charts - EOW #W1 important for Bulls.
Indicators:
- Oscillator #M2 keeping below oversold favors the Bears.
- RSI emphatically crossing above its MA will work for the Bulls #W1
Bulls hope for a 'Three Inside Up' #W1, Bears wish for a Cross of the 5EMA and 13 SMA #W1.
