Saturday, June 16, 2012

S&P 500 - Triple Screen 'Technical Analysis' - Week: 11 June to 15 June 01 2012 - Bulls run up to channel top..

Learning from the Past Week:
Bulls surged ahead last week - bouncing off the Middle channel line.
The confluence of support we identified on the EOD,  the week before last - was the take off point for bulls (click).
Butting into the Channel top on the EOW - the Bulls need a strong push in the week to come.

S&P 500: Long Term View (or) Month Chart (each candle is 1 month's price move)  (or) EOM Chart: 
S&P 500 - End of  Month Chart (EOM) - 15 June, 2012. 

The 5 EMA stopped the Bulls last week.
This Screen remains with the Bulls.
If the June Candle remains green then one sees a 'Bullish Harami' in place - and the next Bull charge?

S&P 500: Medium Term View (or) Week Chart (each candle is 1 week's price move) (or) EOW Chart:  
S&P 500 - End of  Week Chart (EOW) - 15 June, 2012.

The EOW Channel top stopped the Bulls last Week.
Staying well above the MVWAP 34 - Bulls almost made a channel break out.
The new EOW channel above - is the old EOD channel.
Failure to break above the Channel would mean continuation of the steep fall shown in the chart.

S&P 500: Short Term View (or) Day Chart (each candle is 1 day's price move)  (or) EOD Chart:   
S&P 500 - End of  Day Chart (EOD) -  15 June, 2012.

The new Day channel formed due to the recent price action is the fastest one in recent times.
Closing above the MVWAP 34 - one sees the Bulls stopped by the white EOW channel top line.
Staying within the yellow channel - Bulls could breakout big.
Bears would push for a re-test of the Blue Monthly Channel line.

Looking Forward into the next week:
The 5 EMA on the EOM chart and the Channel top on the EOW are formidable resistances.
Bull run on pause until they are cleared.
potential Bullish Harami on the EOM needs to be watched.