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Sunday, July 21, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Week: 15 July to 19 July: 2013 - Bulls make new High



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



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




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



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


Patterns:
  • Bulls look at saying 'bye bye' to the 'Triple Top Threat' with another up move and High #M1
Support & Resistance:
  • Bulls break through the previous All Time High and move the bar a little higher #W1.
  • Index has also the Day channel Top, Week Channel Top and Month Channel Top as resistances to clear #M1,#W1 & #D1.
Moving Averages:
  • The 5 EMA deflecting the 13 SMA, on the Medium term charts #W1 last week, aids this move for the Bulls.  
  • July uses the Long Term 5 EMA as support #M1.
  • Bulls keep above the 13 SMA on the Week Charts #W1.
  • Index kept above the 5 EMA on the EOD charts, for the last two weeks #D1.
Indicators:
  • RSI peeps above oversold line #W2.
  • Oscillator stays oversold  #D2.


Bulls get a new 'All Time High'




Looking forward into the next Week:


Patterns:


Support & Resistance:
  • New All Time High (July'13) and all the Channel Tops Red, Blue and White #D1, are the next resistances for the Bulls.
  • The 76.4% Fibonacci Retrace #M1 - is the next major support.
Moving Averages:
  • Staying above the 5 EMA on the EOM #M1 - shows long term strength of the Bulls.
  • 5 EMA & 13 SMA  #W1  - Deflection was good for Bulls. 
  • 5 EMA & 13 SMA  #D1  - Cross would be good for Bears.
  • Getting below the 13 SMA on the Week Charts #W1 important for Bears.
Indicators:
  • Oscillator #D2 slipping below oversold favors the Bears.
  • RSI sliding below its MA #W2 - would be good for Bears.



Bears hope one of the Channel Top Resistances hold, Bulls call for a new High and more #M1.