|S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 15 Nov'13|
|S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 15 Nov'13|
|S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Oct'2013, onward - as on 15 Nov'13|
Learning from the Past Week: (click here for the previous post)
- Bullish 'Three Inside up' #M1, on the Long Term Charts keeps November green to date - Channel Top resistance folds.
- The Month Channel Top (blue) resistance shown is the new line - Bulls broke through the old line last week along with making a new ATH, #M1.
- 5 EMA on the EOW was the support #W1.
- Bulls keep above the 5 EMA on the EOD all of last week - 5 EMA deflects the 13 SMA to give Bulls clear direction up #D1.
- RSI 13 rpops into the overbought #W2.
- Month Chart Oscillator remains below the over-bought, after the August Close #M2.
Bullish 'Three Inside Up' on the Long Term #M1 gives Bulls more gains - Bear enforced ranging (study) ends in a break-out #D1..
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.
- Keeping above the 5 EMA on the EOD #D1 for all of last week - shows revival of momentum for Bulls.
- Deflection or Cross of the 5 EMA and 13 SMA, next week would again show the direction going forward #D1.
- 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.