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Sunday, January 20, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Week:Week: 14 January to 18 January, 2013 - Bulls hold gains




S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 18 Jan '13



S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 18 Jan '13



S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 18 Jan '13




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

Channel top resistance #D1 continues to dog the Bulls, despite a green week.
#D2 and #W2 shows the Divergence developing on this up move.
On the long term charts - the %K & %D meet and cross bullishly as of now..#M2.
See the last 4 candles on the Long term charts #M1, first three resemble a Bullish 'Three Inside up' and the last candle its result. The alert Bull got some green.



Bulls are on a Song and its only the Day Channel #D1 and the Divergences #D2 & #W2, that could play spoil sport..




The Ellipses marked #M1, #W1 and #D1 indicate the hot spots on the long, medium and short term charts respectively.
As one can see - we are zooming into the action starting #M1 through #W1 and get up close in #D1.



Looking forward into the next Week:

Day channel's, top red line #D1, continues to be resistance for Bulls.
The MVWAP 34 on the EOD, #D1is the likely support.
STS position #2, in the oversold zone, indicate long term strength of Bulls.
Divergences and possibility of a Bearish MA cross on the Day charts #D1 are the Bear hope.



Bulls retain control of all the three screens,  the 5 EMA going below the 13 SMA #D1, could give the Bears a break.





CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 14 January to 18 January, 2013 - Channel Tops and Bull Highs..



Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 18 Jan '13



Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 18 Jan '13



Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Nov' 2012, onward - as on 18 Jan '13




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

Channel top on the EOW - is touched gently by last candle's top #3 even as the Bull come back with a green candle last week.
5 EMA stays above the 13 SMA all last week, on the short term charts #5.
Day channel #5 with the arrows, show us the resistance and supports to watch out for next week.
MACD and Signal lines stay Bearishly crossed #6.
The Short Fuse indicator for Jan'13 shows an uptick #2.



Staying above the 76.4% Fibonacci retrace of the last low (Jan'12) from Nifty's all time high #1 - Bulls are still good for a shot at new Highs.




Looking Forward into the next Week:

Channel top on the EOW, is a major resistance #3 and 6106 is the number to beat here..
The 5 EMA 13 SMA,  bearish cross on the EOD is a signal to watch #5.
Index staying above the 5 EMA on the EOW, is critical for Bulls in the medium term #3.
Action of the MACD vs signal line, is also worth a watch #6.
A recap of the 'Three Outside up'' #1 (click) which started this Bull Charge is a good idea..



Watch if the 5 EMA crosses the 13 SMA Bearishly #5 next week, break of the EOW channel top #3 (6106) is the next Bull task.