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| S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 06 June'14 |
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| S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 06 June'14 |
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| S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Jan'14, onward - as on 06 June'14 |
Learning from last Week: (click here for the previous post)
Patterns:
- Bulls get a break out, following last week's Marubozu #W1.
Support & Resistance:
- Index holds gains - the 5 EMA was AGAIN support both on the Week Charts #W1 and Day charts #D1.
- Weekly Channel Top our resistance was approached #W1.
Moving Averages:
- The 5 EMA and 13 SMA #D1 deflection produces.more gains for Bulls.
Indicators:
- RSI 13, stagnates in the 60s #W2.
- TSI continues holding above its crucial Fibonacci level #M2.
Wrap:
Bulls dominate all 3 screens - Bears defend the EOW channel top #W1.
Looking forward into this Week:
Patterns:
Support & Resistance:
- 5 EMA on the EOW #W1 at a Index reading of 1913 is support for the week, while the Week Channel Top around 1959 #W1 remains resistance.
Moving Averages:
- 5 EMA on the EOD #D1 - 1935 for Monday - would be the first line, Bears want to get below.
Indicators:
- Stochastic 34 3 4, staying back in the over-bought zone, works for the Bulls #D2.
Wrap:
Bulls like a continuation of life above the 5 EMA on the Day charts - Bear future lies in a reversal of the index, around the EOW Channel top to below the 13 SMA on the Weekly charts #W1.
