Sunday, April 21, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Week: 15 April to 19 April, 2013 - Bear Fight back

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 19 April'13

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from OND, 2011 onward - as on 19 April'13

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 19 April'13

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

Bears use the  'All Time High Line' 1597 as resistance to fall back 3% #M1
The short term screen reverts to Bear mode - other screens still Bull.
5 EMA crosses Bearishly below the 13 SMA #D1.
Index sees MVWAP34 on Day Screen as resistance to up move on Friday last  #D1.
Triple top on Long Term Charts - keeps the Bear hopes going.
RSI and its MA remain crossed bearishly and slip below oversold #W2.
Position of the STS and its MA #M1 - show Bull strength in the long term.

Bears get back the short term screen..

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:

Day channel's, bottom green line is support and the MVWAP34 the resistance for the Bulls #D1.
Bulls aim would want to clear the Triple Top Threat next...
Keeping the price, above the 5 EMA on the EOW #3, bulls remain strong.
Triple Top on the Long Term Screen, remains the bane of the Bulls for some more time
Next booster of retaking the 5 EMA short term #D1, needed for Bulls.
Developing Bearish Harami #M1 to be watched.
Breaking the Day Channel's Bottom Green Line #D1 is the next task for the Bears...

Bears have the Triple Top Threat as the next high hope...Bulls would look at getting back the Short Term Screen..