|S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 11 Nov'13|
|S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 11 Nov'13|
|S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Oct'2013, onward - as on 11 Nov'13|
Learning from the Past Week: (click here for the previous post)
- Bullish 'Three Inside up' #M1, on the Long Term Charts produces a green November to date - Channel Top resistance holds.
- The Month Channel Top (blue) is resistance along with the ATH, #D1.
- 5 EMA on the EOW was the support #W1.
- Bulls slip below the 5 EMA on the EOD for half of last week but close above it on Friday #D1.
- RSI 13 remains below the overbought #W2.
- Month Chart Oscillator remains below the over-bought, after the August Close #M2.
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 for half of last week - shows loss of momentum for Bulls.
- Deflection or Cross of the 5 EMA and 13 SMA, next week would show the direction going forward #D1.
- RSI staying below the oversold, with its divergence to Price #W2, plus for Bears.
- Stochastic 34 3 4 staying in the over bought zone, works for the Bulls #D1
Bulls use the 'Three Inside Up' #M1, to stay green in November - Bears aim for a bearish cross of the 5 EMA and 13 SMA #D1.