|S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 21 Feb'14|
|S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 21 Feb'14|
|S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Oct'2013, onward - as on 21 Feb'14|
Learning from last Week: (click here for the previous post)
- Bulls use the Hammer Candle at the bottom of the last dive to reach the ATH #W1.
- Month Screen shows a 'Deliberation Candle Pattern - 3 green candles' followed by the Jan and Feb'14 candles #M1,
- Bearish Harami formed by the last two candles on the Weekly #W1,
- Bulls keep it above the 13 SMA on the Week charts #W1 and hit out at the ATH intra-week. #D1.
- On the Week Chart #W1 and Day Charts #D1, the 5 EMA stays bullishly crossed above the 13 SMA,
- RSI 13, continues to meander in the 50s #W2 while the Stochastic keeps it to the over-bought #D1
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 (1816) #W1 to get back into the game - Bulls look for a new ATH #M1.
- Stochastic 34 3 4, staying in the over-bought, works for the Bulls #D2.
Bears target the 13 SMA #W1 (1816) - Bulls seek momentum to make a new ATH.