S&P 500: Long Term View (or) EOM Chart (or) Month Chart - each candle is 1 month's price action |
S&P 500: Medium Term View (or) EOW Chart (or) Week Chart - each candle is 1 week's price action |
S&P 500: Short Term View (or) EOD Chart (or) Day Chart - each candle is 1 day's price action |
Learning from the Past Week: (click here for the previous post)
Patterns:
- Bullish 'Three Inside up' #M1, on the Long Term Charts keeps November green to date - new ATH.
- The Month Channel Top (blue) gets realigned again as Bulls get on a new trajectory #M1.
- 5 EMA on the EOW was the support #W1 this week also.
- Bulls keep above the 13 SMA on the EOD #D1 all of last week.
- 5 EMA stays above the 13 SMA after a Bullish Deflection #D1.
- RSI 13 stays in the overbought #W2.
- Month Chart Oscillator remains below the over-bought, after the August Close #M2.
Wrap:
Bullish 'Three Inside Up' on the Long Term #M1 gives Bulls more gains - Bears unable to get below the 5 EMA on the EOW #W1..
Looking forward into the next Week:
Patterns:
Support & Resistance:
- 34 EMA and 200 SMA on the Short Term Chart are Support for the Bulls, while the 'All Time High' Line and the Channel Tops #D1 are resistances.
Moving Averages:
- Keeping above the 5 EMA on the EOD #D1 for all of last week - shows momentum for Bulls.
- Deflection or Cross of the 5 EMA and 13 SMA, next week would show the direction going forward #D1.
- Stochastic 34 3 4 staying in the over bought zone, works for the Bulls #D1
Wrap:
Bulls use the 'Three Inside Up' #M1, to stay green in November - Bears aim for a bearish cross of the 5 EMA and 13 SMA #D1.