Sunday, March 24, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Week: 18 March to 22 March, 2013 - Month Channel Top holds..



S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 22 March'13



S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from OND, 2011 onward - as on 22 March'13



S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 22 March'13




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

Price takes support on the Month Channel Top - #M1, #W1 & #D1 - Bears fail to bring it below this support.
Triple top on Long Term Charts - keeps the Bear hopes high.
Bulls keep index above the 5 EMA on all three screens.
RSI #W2, and its MA re-crossed bearishly.
The action at the STS #M2 emphasize the Bull's Long Term Strength.
The 5 EMA and 13 SMA on the Day screen #D1 meet for deflection or cross next week.
Bulls just about retain control of the three screens this week. 



Bulls control all three screens and foil the Bear attack the Month channel top.



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:

Bearish Harami forms on the Week Charts #W1 - next candle decides 'Three inside down'.
Three Inside Down Candle Pattern can be revised here, here or anywhere else.
Month channel's, top red line #M1, continues as support for the Bulls.
Bulls aim for the all time high of the SP500 (1576) - line marked #M1.
Price, below the 5 EMA on the EOW #3, is the point where the bears see strength.
Triple Top on the Long Term Screen, remains the bane of the Bulls for some more time
5 EMA and 13 SMA on day charts touch - poised for deflection or cross #D1.



Action on the MAs #D1 and the follow up candle on the Week Screen #W1, to determine direction in the coming week.