|S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 06 Dec'13|
|S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 06 Dec'13|
|S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Oct'2013, onward - as on 06 Dec'13|
Learning from the Past Week: (click here for the previous post)
- Bullish 'Three Inside up' #M1, on the Long Term Charts kept November green - last week bears ensure no new ATH.
- Index falls out of Day Channel #D1, Pulls back from Support to Channel Bottom.
- MVWAP 34 on the EOD #D1 was the support last week.
- Bulls keep December candle clear of the 5 EMA on the Long Term Charts #M1.
- 5 EMA slides below the 13 SMA after Bears strike with a Cross #D1.
- RSI 13, stays in the overbought #W2.
- Month Chart Oscillator remains below the over-bought, after the August Close #M2.
Bears nose into the Bull Party and get the 5 EMA below the 13 SMA on the EOD #D1..
Looking forward into the next Week:
Support & Resistance:
- 34 MVWAP and 200 SMA on the Short Term Chart are Support for the Bulls, while the 'All Time High' Line and the Channel Top #W1 are resistances.
- Keeping below the 5 EMA on the EOD #D1 for all of last week - shows momentum loss for Bulls.
- Failure of the Bears to restrict the Bull Pull back (Study here, here or elsewhere) below the EOD Channel (pink) #D1 - could result in a Bullish re-cross of the 5 EMA and 13 SMA and these two give us direction going forward.
- Stochastic 34 3 4 heading to the oversold, works for the Bears #D1
Bulls want to use the 'Three Inside Up' #M1, to stay green - Bears hope to take the Index below the 34 MVWAP #D1.