|S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 14 Feb'14|
|S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 14 Feb'14|
|S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Oct'2013, onward - as on 14 Feb'14|
Learning from last Week: (click here for the previous post)
- Bulls use the Hammer Candle at the bottom of the dive to go green another week #W1.
- Month Screen shows a 'Deliberation Candle Pattern - 3 green candles' followed by the Jan and Feb'14 candles #M1,
- Desperate Bears fail to defend the 13 SMA on the Week charts #W1 - Bulls get fresh life above the MVWAP 34 #D1.
- On the Week Chart #W1 and Day Charts #D1, the 5 EMA bullishly crosses above the 13 SMA,
- RSI 13, meanders in the 50s #W2 while the Stochastic makes it to the over-bought #D1
Bulls hammer two green weeks in a row - Bears lose hold of all 3 time-frames and look to the ATH for defense.
Looking forward into this Week:
Support & Resistance:
- MVWAP 34 on the Short Term Chart is now support for the Bulls, while the All Time High (ATH) #M1 is resistance.
- Bears need to get the index below the 13 SMA (1814) #W1 to get back into the game - Bulls want the a new ATH #M1.
- Stochastic 34 3 4, staying in the over-bought, works for the Bulls #D2.
Bears desperately want to get the index back below the 13 SMA #W1 (1814) - Bulls seek momentum to make a new ATH ..