Saturday, September 15, 2012

S&P 500 - Triple Screen 'Technical Analysis' - Week: 10 September to 14 September, 2012 - Nxt stop 2008 High ?

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) - 14 Sept, 2012
 Above is the Month Chart - EOM - analyzing Data from mid 2009, onward. 

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) - 10 Sept, 2012.
Above is the Week Chart - EOW -  analyzing Data from Q2-Q3 2012, onward.

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) -  10 Sept, 2012.
Above is the Day Chart - EOD -  analyzing Data from Aug-Sept 2012, onward.

Learning from the Past Week:  (click here for the post)
Bulls continued to be on a Roll last week too.
After breaching the last high of the year the previous week, Bulls kept moving to reach the channel top (2), last week.
The Week's channel is tested (4,6)
The '-ve' divergence on the RSI (5) is persistent.
Key indicators are in the oversold zone (3,5)

Looking forward into the next Week:
Month Channel's top (2) at 1494 (for Sept) is a critical resistance for the Index.
Clearing this resistance with force, would place the 2008 high (1) of 1576, within reach.
Failure at this spot gives the Bears, their best crash option of this year.
'-ve' divergences (3,5) enthuse the Bears.
The Week's Channel being breached (4,6)- give the Bulls further fire.
Watching the action at the month channel's top line (2), makes ample sense.