S&P 500 - Triple Screen 'Technical Analysis' - 3 inside up, 3 green months - Week 1 of January 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 27 Dec'13

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 27 Dec'13

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Oct'2013, onward - as on 27 Dec'13

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

Patterns:

• Bullish '3 Inside up' #M1, on the Long Term Charts keeps November and December candles green, with a new ATH.

Support & Resistance:

• Index moves up with good momentum above th 5 EMA on the EOD all of last week #D1. 
• EOW channel top resistance (orange line) helps Bears hold up the rally #W1.

Moving Averages:  

• The Month candle stayed above the 5 EMA showing the long term strength of the Bulls #M1.
• Bulls with the new ATH, end above all the MAs we track across all screens, for the second week running.

Indicators:

• RSI 13, stays in the overbought #W2.
• Month Chart Oscillator slides below the overbought, after the August Close #M2.

Wrap:

Bulls keep well above the 5 EMA on the EOD to get another new ATH - Bears hold fort at the EOW channel top #D1..

Looking forward into this Week:

Patterns:

• Long Term Chart's Bullish 'Three Inside up' (Study link here, here or elsewhere) #M1 - still active.

Support & Resistance:

• 200 SMA and EOD channel Bottom on the Short Term Chart are Support for the Bulls.
• 'All Time High' Line and the Channel Top #W1 are resistances.
• Bulls dominate all three screens.

Moving Averages:

• Bears need to get below the 5 EMA on the EOW (1808) to get a life #W1.

Indicators:

• Stochastic 34 3 4 in the overbought zone, works for the Bulls #D1.
• MACD and its MA meet up for a cross or deflection #D1.

Wrap:

Bears see life below 1808 and trust the EOW channel top #W1 continues to hold the Bulls - Bulls expect to make new highs and keep December's candle green #M1.