TO READ THIS WEEK's POST CLICK HERE...

Sunday, December 23, 2012

S&P 500 - Triple Screen 'Technical Analysis' - Week: 17 December to 21 December, 2012 - Bulls hold on..





S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 21 December, 2012 




S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 21 December, 2012




S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 21 December, 2012






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

Bulls fail to move back into the Week Channel #3 - Bears nudge them out on the last day of the Week #5.
Bullish Cross of the 5 EMA and 13 SMA on the EOW #3 - looks on.
Bullish Deflecton of the above MAs on the EOD #5 also occurs.
Index continues its slithering along, at or around the bottom line of the EOW channel #3, #5.
Bulls keep above the 34 MVWAP on the EOD #5 and EOW #3.
Bears close index above the critical 13 SMA on the week charts #3.


Last week again saw the Bulls and Bears maintain status 'quo on the medium term and short term - bulls go stronger into the next week.





Looking forward into the next Week:

Bullish Cross of 5/13 MAs on EOW  #3 to be watched for, at the start of the next week.
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.
Keeping above the 13 SMA the Bulls can finally  gain entry back into the week channel #3.
Resistance continues at the EOW channel bottom #3, support is at the '23.6% Fibonacci retrace of the Oct'07 High and Mar'09 Low' #1.



Bears failed to take it down last week and now the Bulls look at breaking the impasse with a Bullish MA cross studied above.





CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 17 December to 21 December, 2012 - Teddy eyes X'Mas feast..




Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 21 Dec '12 




Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 21 Dec '12




Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from November 2012, onward - as on 21 Dec '12







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

Failure of the Bullish Hikkake, very early in the week - helped one sense the trend.
Bears after the above, moved the index below the Nov'12 Close - putting on hold the Bullish Three Outside up #1.
Bulls manage to keep the index above the Wall for December i.e. 5825.
Bullish Cross of the 5 EMA and 13 SMA is followed by a Bearish Cross #5.
MACD and Signal line deflect neatly  #6.
The Short Fuse indicator continues to show a down tick all December #2.
The resistance line on the STS #4 shows us the way again.


The Resistance line drawn on the EOD #5 held off the Bulls once again and the Bears halt just above the Wall. 





Looking Forward into the next Week:

Taking the index below our Wall for December: 5825, would be the next challenge for the Bears.
Bulls need to take it above 5880, the Nov'12 Close to prevent a Bear Charge.
The 5 EMA #3 on the EOW, lines up with the Wall for the coming week i.e. both lie at 5825.
Bulls remain on top, so long as the STS keeps in the oversold  #4.



Break of the 5825-5880 range, early in the week, is something to watch out for. Downside break would be the Bear's X'Mas Treat.