Sunday, January 6, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Week:Week: 31 December to 04 January, 2013 - Bulls Break out...

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 04 Jan '13

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 04 Jan '13

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 04 Jan '13

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

After the Bear Slide of the week before last - one suggested watching the MVWAP 34 #D1, on the Day Chart - retake of this MA by the Bulls early in the week was the first sign of a fightback.
The Bullish Cross of the 5 EMA and 13 SMA on the EOW #W1, also triggered the Bullish breakout.
EOW channel has been reoriented #W1 post the up move.  
On the long term charts - one sees a close above 5 EMA  #M1 and also see the %K & %D meeting for a cross #M2.
RSI stayed above the MA #W2 another sign we observed last week.

Last week saw the Bulls and Bears reverse dominance on the medium term and short term - Bulls with a huge green candle take top slot.

Looking forward into the next Week:

The Ellipses marked #M1, #W1 and #D1 indicate the focus areas on the long, medium and short term charts that we study this week.
As one can see - we are zooming into the action and get up close in #D1.

Channel top resistance #D1 is something the Bears would use, to pause the Bull run.
Once again the MVWAP 34 on the EOD, #D1 is something to watch.
STS position #2, in the oversold zone, indicate long term strength of Bulls - One watches the action of the %K and %D for clues to the Bull strength.

Bulls take over all the three screens and the Bears are left hoping for a fall from the short term Channel's 'red top line' #D1.