 |
| S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 03 July'14 |
 |
| S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 03 July'14 |
 |
| S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Jan'14, onward - as on 03 July'14 |
Learning from last Week: (click here for the previous post)
Patterns:
- Bulls move to a new ATH following previous week's Doji #W1.
- Last week's candle makes a Closing white (green in our screen) Marubozu #W1.
Support & Resistance:
- Index keeps above the 13 SMA on the Day charts #D1 and takes off from support at the 5 EMA on the Weekly #W1.
- Earlier Weekly Channel Top (or Monthly channel mid-line) resistance was broken and we have a new steeper Weekly channel as drawn #W1.
Moving Averages:
- The 5 EMA and 13 SMA, stay deflected on the EOD #D1 - helping the Bulls crack the old Weekly channel top.
Indicators:
- RSI 13 stays in the over bought #W2.
- TSI continues holding above its crucial Fibonacci level #M2.
Wrap:
Bulls retain control of all Screens - Bears fail to defend the Month channel Mid-line #W1.
Looking forward into this Week:
Patterns:
Support & Resistance:
- 5 EMA on the EOW #W1 at a Index reading of 1959 is support for the week, while the Day Channel Top #D1 is resistance.
Moving Averages:
- 5 EMA and 13 SMA currently deflected Bullishly - Bears need to reverse this to get a life #D1.
Indicators:
- Stochastic 34 3 4, staying back in the over-bought zone, works for the Bulls #D2.
Wrap:
Bulls seek to go above the last ATH i.e. 1986 - after a round dozen weeks above the weekly 5 EMA, Bears want to crack 1959 on the downside #W1.
