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Sunday, February 3, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Week: 28 January to 01 February, 2013 - Bulls near Channel Top




S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 01 Feb'13




S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 01 Feb'13




S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 01 Feb'13





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

Channel top resistance #D1, as expected - hedges the Bulls, another green week ensues.
#D2 and #W2 shows the Divergence developing on this up move.
#M1, #W1, #D1 - show us that the Month Channel's red top line, is even closer to the price line.
5 EMA and 13 SMA on the EOD charts #D1, close in for a possible cross or deflection...
RSI #W2, causes another 'Lower High' and yet to move into oversold.
Bulls are on top on all the three screens as of now.



Bulls are on a Song and its only the Month/Day Channel's top red line #M1/#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.
RSI #W2, causing another 'Lower High' is not good for Bulls.
Possibility of a MA cross or deflection 13 SMA with 5 EMA on the Day charts #D1 appears nearer.
Month Channel top #M1 assumes critical importance as the next major resistance to beat.



Confluence of the Day & Month Channel Top is a critical resistance - #D1..




CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 28 January to 01 February, 2013 - 2 Crows & a Wall




Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 01 Feb'13



Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 01 Feb'13



Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Nov' 2012, onward - as on 01 Feb'13





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

Channel Top Stop on the EOW #3 - again - sends back the Bulls.
Our mark was 6126 and the week topped at 6112 - watchful bears moved down for a 125 point  fall #5.
5 EMA slips below the 13 SMA, on the short term charts #5 - disadvantage Bulls. 
Day channel #5 with the arrows, show us the resistance and supports to watch out for, next week.
Index slips below the 5 EMA on the EOW charts #3.
MACD and Signal lines stay Bearishly crossed #6.
A possible Evening Star Reversal fails - but a 'Bearish 2 Crows' pattern emerges #3




Bulls lose control of the short term even as the Bears rev up some momentum after bouncing off the Week Channel's top line #3.





Looking Forward into the next Week:

Channel top on the EOW, remains a major resistance #3.
Bouncing from the Blue middle line of the EOD channel #5 - Bulls could attempt a retake of the short term screen.
Index getting back above the 5 EMA on the EOW, is critical for Bulls in the medium term #3.
Action of the MACD vs signal line, is worth a watch #6.
Wall for the month is 6035.
A study of the 2 Crows pattern, herehere or anywhere else is good, from an educational perspective.




Closing above the Wall (6035) is the near term task for the Bulls - Taking the index below the 34 EMA on the EOD Charts #5 keeps the short term with the Bears.