|S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 06 Apr'14|
|S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 06 Apr'14|
|S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Oct'2013, onward - as on 06 Apr'14|
Learning from last Week: (click here for the previous post)
- Index continues its consolidation with a shooting star on the EOW #W1..
- Bulls resisted near the current ATH, Index takes support at the Daily channel bottom again #D1.
- On the Day Chart, the 5 EMA and 13 SMA cross Bullishly #D1.
- RSI 13, meanders to the 50s #W2.
Bears defend current ATH - Bulls close the week inside the Day channel #D1
Looking forward into this Week:
Support & Resistance:
- Bulls take support at the Daily Channel Bottom #D1 for the 2nd week now, while the Week Channel Top #W1 remains resistance.
- MVWAP 34 on the EOD #D1 is now the critical stop for Bulls #D1.
- Stochastic 34 3 4, slipping below the over-bought zone, works for the Bears #D2.
Bears look to get below 1836 - Bulls wish to keep the MVWAP 34 on the EOD below their hooves #D1.