Sunday, November 25, 2012

S&P 500 - Triple Screen 'Technical Analysis' - Week: 19 November to 23 November, 2012 - Bulls Pull Back

 S&P 500: Long Term View (or) Month Chart (each candle is 1 month's price)  (or) EOM Chart:
S&P 500 - End of  Month Chart (EOM) - 23 November, 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) (or) EOW Chart:
S&P 500 - End of  Week Chart (EOW) - 23 November, 2012
Above is the Week Chart - EOW -  analyzing Data from Q4, 2011, 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) -  23 November, 2012
Above is the Day Chart - EOD -  analyzing Data from Oct'2012, onward.

Learning from the Past Week:  (click here for the post)

Staying above last week's close #1, #4 the '23.6% Fibonacci retrace of the Oct'07 High and Mar'09 Low' - one saw the Bulls returning fire - with a pull back to EOW channel bottom #3.
The last three candles on the EOM #1 continues to resemble a Three Inside Down - despite the Bull pull back.
Bullish cross of the 5 EMA and 13 SMA occur on the short term chart, as a result of the pull back.

Looking forward into the next Week:

%D and %K on the STS #2 look like crossing bearishly this month.
23.6% Fib is seen as support for Bulls.
Currently the MVWAP 34 on the EOD #5 and the Channel Bottom of the EOW #3 are seen as resistances.
As follow up to the pullback - Bulls should break through back into the EOW channel - else the resistance here, gives Bears the baton.
If the Bears manage a Bearish Three Inside Down #1 then this pattern's performance, would decide the action for the last month of this year.