Sunday, February 24, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Week: 18 February to 22 February, 2013 - Bears defend Channel Top Again..

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 15 Feb'13

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from OND, 2011 onward - as on 15 Feb'13

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 15 Feb'13

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

Month Channel top resistance, seen at #D1, #W1 & #M1 once again sends back the Bulls, a red week seen.
#D2 and #W2 show Divergence.
#M1, #W1, #D1 - show us that the Month Channel's red top line, clearly stop the price line.
5 EMA and 13 SMA on the EOD charts #D1, which was seen converging last week, cross bearishly.
RSI #W2, and its MA cross bearishly while still in the oversold.
Bears wrest the short term screen from the Bulls #D1 & #D2.
#D1 shows the price line taking support on the MVWAP 34 - exactly as anticipated last week.

Watch of the Month/Day Channel's top red line #M1, #D1 and the Divergences #D2 & #W2, paid off .. support on the 34 MVWAP #D1 also worth a watch.

The Ellipses marked #M1, #W1 and #D1 indicate the hot spots on the long, medium and short term charts respectively.
As one can see - we are zooming into the action starting #M1 through #W1 and get up close in #D1.

Looking forward into the next Week:

Month channel's, top red line #M1, continues to be resistance for Bulls.
The MVWAP 34 on the EOD, #D1, remains the support.
Bullish cross of the 13 SMA with 5 EMA on the Day charts #D1 critical for the Bull.
Sliding the price, below the 5 EMA on the EOW #3, is the next task for the Bear.

Month Channel Top continues as the critical resistance - #M1..