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Monday, October 7, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Bulls see a long 3 inside up :- Week: 30 September to 04 October, 2013.



S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 04 Oct'13

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 04 Oct'13



S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from July'2013, onward - as on 04 Oct'13



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


Patterns:
  • August and September Candles form a Bullish Harami - October Candle to-date looks like making it a Bullish 'Three Inside up' (study). 
Support & Resistance:
  • The short Term 34 EMA was support for the Bulls last week  #D1.
  • Day Chart 13 SMA was the nearest resistance #D1.
Moving Averages:  
  • 5 EMA and 13 SMA stay crossed Bearishly on the EOD charts #D1.
  • Index ends near the 5 EMA on the Medium and well above the 5 EMA on the long Term Charts #W1, #M1.
Indicators:
  • RSI 13 returns from the overbought #W2.
  • Month Chart Oscillator remains below the over-bought, after the August Close #M2.


Wrap:
Bears almost get their wish to get below the 5 EMA (EOW), Bulls get a 'Three Inside Up' in progress on the Long Term..


Looking forward into the next Week:


Patterns:
  • On the Long Term Chart a Bullish 'Three  Inside Up' (study) is in progress for October ..
Support & Resistance:
  • 34 EMA on the Short Term Chart is the nearest Support for the Bulls, while the 13 SMA #D1 is resistance.
  • Beyond these the 76.4% Fibonacci Retrace #M1 - is the next major support and the Month Channel Top (blue) is the resistance seen, #M1.
Moving Averages:
  • Staying above the 5 EMA on the EOM #M1 - shows long term strength of the Bulls.
  • Staying below the 13 SMA on the EOD #D1 important for Bears in the short term.
Indicators:
  • Oscillator #M2 keeping below oversold favors the Bears.
  • Stochastic 34 3 4 getting back to the over bought zone, will work for the Bulls #D1


Wrap:
Bulls hope the 'Three Inside Up' #M1, forms in October - Bears want life below the 5 EMA on the EOW #W1.