Sunday, December 9, 2012

S&P 500 - Triple Screen 'Technical Analysis' - Week: 03 December to 07 December, 2012 - Bulls nibble on Green

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 07 December, 2012 

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 07 December, 2012

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 07 December, 2012

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

Bulls after averting a Three Inside Down #1 last month - consolidate with a small green candle this week.
%D and %K on the STS #2,  have crossed bearishly.
Bullish Cross or Bearish Deflection of the 5 EMA and 13 SMA on the EOW #3 - awaited.
Index slithers along. at or around the bottom line. of the EOW channel #3 and #5.
Bulls manage to keep above the 34 MVWAP on the EOD #5.
Bearish Cross of the 5 EMA, to below the 13 SMA on the EOD #5 - seems on. 

Last week again saw the Bulls maintain status 'quo on the medium term, and they continue to retain  control of the Long Term Charts.

Looking forward into the next Week:

Bearish Crosses of critical MAs that we track, possible next week on EOW and EOD  #3, #5.
Bulls need to move back decisively into the EOW channel to avert a slide #3.
Above the 5 EMA the Bulls retain Long Term strength  #1.
Resistance continues at the EOW channel bottom, support is at the '23.6% Fibonacci retrace of the Oct'07 High and Mar'09 Low' #1.

Bulls continue to nudge ahead - the Bears are yet to show that they mean Business.