S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 28 Feb'14 |
S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 28 Feb'14 |
S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Oct'2013, onward - as on 28 Feb'14 |
Learning from last Week: (click here for the previous post)
Patterns:
- Bulls make a weekly 'Opening White Marubozu' near the ATH #W1.
- Month Screen shows a 'Deliberation Candle Pattern - 3 green candles' followed by the Jan and Feb'14 candles #M1,
- Bulls keep it above the 5 EMA on the Week charts #W1 and nudge up the ATH intra-week. #W1.
- On the Day Chart, the 5 EMA and 13 SMA poised to touch #D1.
- RSI 13, continues to meander in No-Man's land #W2 while the Stochastic keeps it to the over-bought #D1
Wrap:
Bulls make a new ATH - Bears lose control of all Time Frames..
Looking forward into this Week:
Patterns:
Support & Resistance:
- 13 SMA on the Medium Term Chart #W1, is now support for the Bulls, while the All Time High (ATH) #M1 is resistance.
Moving Averages:
- Bears need to get the index below the 13 SMA (1821) #W1 to get back into the game - Bulls seek continuum to a new ATH #M1.
- Stochastic 34 3 4, staying in the over-bought, works for the Bulls #D2.
Wrap:
Bears target the 13 SMA #W1 (1821) - Bulls seek momentum to continue to make new ATHs.