|S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 18 Oct'13|
|S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 18 Oct'13|
|S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from July'2013, onward - as on 18 Oct'13|
Learning from the Past Week: (click here for the previous post)
- The short Term Channel Top was resistance for the Bulls last week #D1.
- 5 EMA on the EOD was the support #D1.
- Aggressive Bulls keep above the 5 EMA on EOD all last week #D1.
- RSI 13 below the overbought #W2.
- Month Chart Oscillator remains below the over-bought, after the August Close #M2.
Bulls keep the 'Three Inside Up' in progress on the Long Term .. and make a new 'All Time High'
Looking forward into the next Week:
- On the Long Term Chart the Bullish 'Three Inside Up' (study) continues to be in-progress for October ..
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.
- Staying above the 5 EMA on the EOM #M1 - shows long term strength of the Bulls.
- RSI staying below the oversold, with its divergence to Price apparent #W2, plus for Bears.
- Stochastic 34 3 4 staying in the over bought zone, works for the Bulls #D1
Bulls expect the 'Three Inside Up' #M1, forms in October - Bears see 'life' below the 5 EMA on the EOW #W1.