TO READ THIS WEEK's POST CLICK HERE...

Sunday, February 10, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Week: 04 February to 08 February, 2013 - Channel Top Hold



S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 08 Feb'13




S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 08 Feb'13




S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 08 Feb'13




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

Channel top resistance #D1, again - holds the Bulls, a smaller green week ensues.
#D2 and #W2 shows that Divergence persists.
#M1, #W1, #D1 - show us that the Month Channel's red top line, is almost at the price line.
5 EMA and 13 SMA on the EOD charts #D1, mildly deflect - cross still an option.
RSI #W2, moves into oversold.
Bulls remain on top on all the three screens as of now.


Bulls are on top but slow down a bit .. watch the Month/Day Channel's top red line #M1/#D1 and the Divergences #D2 & #W2.




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 continuing deflection of the 13 SMA with 5 EMA on the Day charts #D1 worth watching.
Month Channel top #M1 assumes critical importance as the next major resistance to beat.



Month Channel Top is a critical resistance - #M1..




CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 4 February to 08 February, 2013 - 2 Crows' Fall..


Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 08 Feb'13



Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 08 Feb'13



Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Nov' 2012, onward - as on 08 Feb'13



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

Channel Top Stop on the EOW #3, becomes the nemesis of Bulls.
2 crows pattern which we studied last week works for the Bears #3.
Day channel #5 with the arrows, show us the resistance and supports to watch out for, next week.
Index slips below the 34 EMA and 50 SMA on the EOD charts #5.
MACD visits the zero line #6
Bulls find support on the 13 SMA #3 EOW - a strong place.



Bulls lose control of the short & medium term even as the Bears rev up some momentum after bouncing off the Week Channel's top line and the 2 crows pattern #3.




Looking Forward into the next Week:

Channel top on the EOW, remains a major resistance #3.
Bouncing from the green bottom line of the EOD channel #5 - Bulls could attempt a retake of the short term screen.
Index keeping above the 13 SMA on the EOW #3, is critical for Bulls.
2 crows pattern that we studied last week to be followed up.
50 SMA and 200 SMA converge after a long time - too much of this would result in a death cross.
Getting above the 76.4% Fibonacci retrace of the last low (Jan'12) from Nifty's all time high #1 - is important for Bulls to get a shot at new Highs.



Keeping the index above the 13 SMA on the EOW Charts #3 keeps the Bull in contention for a Bounce..