Sunday, July 1, 2012

S&P 500 - Triple Screen 'Technical Analysis' - Week: 25 June to 29 June 01 2012 - Bulls keep above channel top.

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) - 29 June, 2012

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) - 29 June, 2012.

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) -  29 June, 2012.

Learning from the Past Week(click):
EOM sees a close above the 5 EMA - Bulls would love that.
The last two candles on the EOW neatly bounced off the White Weekly channel top - as anticipated last week.
Bulls staved off a bearish cross on the RSI (EOW).
The redrawn EOD channel in yellow - shows the Index on a steep rate of climb, and its above the MVWAP 34.

Looking forward into the Next Week:

On the EOM the developing Bullish Harami is complete - bulls now look forward to this mutating into a Bullish 'Three inside up' next Week.
We see an Bullish Engulfing Pattern on the EOW, this for a bull should turn into a bullish 'Three outside up'.
A Bullish cross of the 5 EMA and 13 SMA is on next week, if the index closes above 1353.
Keeping above the MVWAP 34 on the EOD, Bulls would look at taking off from the Week Channel (White) top.