Saturday, September 29, 2012

S&P 500 - Triple Screen 'Technical Analysis' - Week: 24 September to 28 September, 2012 - Three Inside Down

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) - 28  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) - 28 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) -  28 Sept, 2012.
Above is the Day Chart - EOD -  analyzing Data from Sept 2012, onward.

Learning from the Past Week:  (click here for the post)
We watched the action at the month chart's channel, and saw the resistance send back the bulls here (1).
Bears used the Bearish Harami on the week chart (3) to get back into the action with a Bearish three inside down. exactly as anticipated in our study last week.
Failure to stay above the 5 EMA on the Day Chart (5) - was the early warning signal of Bear Power.
Bulls have a mixed feeling, with a close below the 5 EMA on the EOD (5) and above the 5 EMA on the EOW (3).
Support for Bulls came on the MVWAP 34 on EOD (5).

Looking forward into the next Week:
Keeping it below the 5 EMA on the EOD and maybe EOW - the Bears would make progress away from the Bull zone (2,4).
The new month brings a higher target on the Month channel top (1) and cracking this line is what the Bulls seek to do.
Oversold positions (2,4) favor Bull story.
Follow up action of the Three Inside Down (3) - keeps Bear hope alive.