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Monday, November 18, 2013

S&P 500 - Triple Screen 'Technical Analysis' - 3 inside up gains - Week 3 of November 2013.



S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 15 Nov'13



S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 15 Nov'13


S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Oct'2013, onward - as on 15 Nov'13




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


Patterns:

  • Bullish 'Three Inside up' #M1, on the Long Term Charts keeps November green to date - Channel Top resistance folds.
Support & Resistance:
  • The Month Channel Top (blue) resistance shown is the new line - Bulls broke through the old line last week along with making a new  ATH, #M1. 
  • 5 EMA on the EOW was the support #W1.
Moving Averages:  
  • Bulls keep above the 5 EMA on the EOD all of last week - 5 EMA deflects the 13 SMA to give Bulls clear direction up #D1.
Indicators:
  • RSI 13 rpops into the overbought #W2.
  • Month Chart Oscillator remains below the over-bought, after the August Close #M2.


Wrap:
Bullish 'Three Inside Up' on the Long Term #M1 gives Bulls more gains - Bear enforced ranging (study) ends in a break-out #D1..



Looking forward into the next Week:


Patterns:
  • Long Term Chart's Bullish 'Three Inside up' (Study link herehere or elsewhere) #M1 - still active.
Support & Resistance:
  • 34 EMA  and 200 SMA on the Short Term Chart are Support for the Bulls, while the 'All Time High' Line and the 3 Channel Tops #D1 are resistances.
Moving Averages:
  • Keeping above the 5 EMA on the EOD #D1 for all of last week - shows revival of momentum for Bulls.
  • Deflection or Cross of the 5 EMA and 13 SMA, next week would again show the direction going forward #D1. 
Indicators:
  • Stochastic 34 3 4 staying in the over bought zone, works for the Bulls #D1


Wrap:
Bulls use the 'Three Inside Up' #M1, to stay green in November - Bears aim for a bearish cross of the 5 EMA and 13 SMA  #D1.