|S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 01 Nov'13|
|S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 01 Nov'13|
|S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from July'2013, onward - as on 01 Nov'13|
Learning from the Past Week: (click here for the previous post)
- The Month Channel Top (blue) resistance was cleared by the Bulls last week with a new ATH , new channel shown #M1 - This is current resistance.
- 13 SMA on the EOD was the support #D1.
- Bulls slip below the 5 EMA on the EOD last week #D1.
- RSI 13 remains below the overbought #W2.
- Month Chart Oscillator remains below the over-bought, after the August Close #M2.
Bulls get the 'Three Inside Up' on the Long Term and make another new 'ATH'
Looking forward into the next Week:
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 3 Channel Tops #D1 are resistances.
- Slipping below the 5 EMA on the EOD #D1 - shows loss of momentum for Bulls.
- RSI staying below the oversold, with its divergence to Price (arrow) #W2, plus for Bears.
- Stochastic 34 3 4 staying in the over bought zone, works for the Bulls #D1
Bulls get the 'Three Inside Up' #M1, in October - Bears aim to keep the index below the 5 EMA #D1 .