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| S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 25 July'14 |
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| S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 25 July'14 |
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| S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Jan'14, onward - as on 25 July'14 |
Learning from last Week: (click here for the previous post)
Patterns:
- Bullish Harami Pattern fails to turn into a Three Inside Up - missing the mark by a narrow 6 point margin #W1.
- Last candle on the weekly chart is a Doji #W1.
Support & Resistance:
- Index holds below the 1975 mark early in the week, Bulls take support on the Weekly 5 EMA #W1 and clear this mark to make a new ATH, Bears bring the index back to the mark by Friday - making a Doji.
Moving Averages:
- The 5 EMA and 13 SMA, are bullishly crossed on the EOD #D1.
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 and make a new ATH - Bears force index back down to make a Doji week #W1.
Looking forward into this Week:
Patterns:
Support & Resistance:
- EOD channel Bottom is the support while the current ATH #D1 is resistance for the week.
Moving Averages:
- 5 EMA on the EOW #W1 at a Index reading of 1971 and 1942 the 13 SMA (weekly) are levels the Bulls would want to defend.
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. 1991 - Bears want to break the EOD channel bottom #D1.
