|S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 31 Jan'14|
|S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 31 Jan'14|
|S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Dec'2013, onward - as on 31 Jan'14|
Learning from last Week: (click here for the previous post)
- Bulls close just above the 5 EMA on the Monthly chart #M1.
- On the Week Chart, the 5 EMA makes a Bearish Cross with the 13 SMA #W1.
- RSI 13, meanders in the 50s #W2.
- Month Chart Oscillator below the overbought, as it has been after the August'13 Close #M2.
Bulls see red month and year but consolidate last week - Bears take the Short Term and nearly take the Medium Term too..
Looking forward into this Week:
Support & Resistance:
- MVWAP 34 on the Short Term Chart is resistance for the Bulls, while the Month Chart's 5 EMA (1771) is the next Support.
- Bears need to keep the 5 EMA on the EOW below the 13 SMA (i.e index below 1826) to stay in the game #W1
- Stochastic 34 3 4, deliberating near the over sold, works for the Bulls #D2.
Bulls desperately want to hold above 1771 - Bears want to keep the Week Chart's 5 EMA below the 13 SMA.