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Monday, September 9, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Bulls look inside to go up :- Week: 03 September to 06 September: 2013.



S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 06 Sept'13



S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 06 Sept'13



S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from July'2013, onward - as on 06 Sept'13




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


Patterns:
  • Bullish Harami forms on the Medium Term Charts #W1.
  • The 'Three Inside Down' that we studied  on the weekly charts gave the Bears 4% downside honey #W1.
Support & Resistance:
  • Index closes at the 13 SMA on the Week Channel #W1 which was resistance for Bulls on the upside.
  • The Long Term 5 EMA was support for the Bulls on the way down  #M1.
Moving Averages:  
  • 5 EMA and 13 SMA cross Bullishly on the EOD charts #D1.
  • On the EOW - 5 EMA and 13 SMA touch #W1. 
  • Index keeps above the 5 EMA on the Long Term Charts #M1.
Indicators:
  • RSI 13 peeks above the 50 mark - MA hugging the RSI #W2.
  • Stochastic 34 3 4 bounces from the over-sold  #D2.
  • Oscillator remains below the over-bought, after the August Close #M2.


Bulls bring the Short Term Screen to No Man's Land - Bears fight to keep the 13 SMA #W1. 



Looking forward into the next Week:


Patterns:
Support & Resistance:
  • 34 MVWAP on the Short Term Chart is the next resistance for the Bulls, while the 5  EMA #M1 is the Support..
  • Beyond these the 76.4% Fibonacci Retrace #M1 - is the next major support and the Last All Time High is the resistance seen, #M1.
Moving Averages:
  • Staying above the 5 EMA on the EOM #M1 - shows long term strength of the Bulls.
  • 5 EMA & 13 SMA  on the Medium Term Charts #W1 -  poised to deflect Bullishly or cross Bearishly by EOW - to be watched.
  • Closing above the 13 SMA on the Week Charts - EOW #W1 important for Bulls.
Indicators:
  • Oscillator #M2 keeping below oversold favors the Bears.
  • RSI emphatically crossing above its MA will work for the Bulls #W1



Bulls hope for a 'Three Inside Up' #W1, Bears wish for a Cross of the 5EMA and 13 SMA #W1.