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Sunday, February 17, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Week: 11 February to 15 February, 2013 - Channel Top Holds Again..



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




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




S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 15 Feb'13




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

Channel top resistance #D1, again - holds the Bulls, an even 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, again converge..
RSI #W2, moves into oversold.
Bulls remain on top on all the three screens as of now.
#D1 shows the price line hesitating at the Month Channel's Red Top line - for the last few days..


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




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.
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 continues to be of critical importance as the next major resistance to beat.



Month Channel Top continues as the critical resistance - #M1..




CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 11 February to 15 February, 2013 - 2 Crows' Fall Xtends...




Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 15 Feb'13





Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 15 Feb'13





Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Nov' 2012, onward - as on 15 Feb'13





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

Channel Top Stop on the EOW #3, remains the nemesis of Bulls for another week.
2 crows pattern which we studied, continues to work for the Bears #3.
Day channel #5 sees price break below the channel bottom - next week's channel also shown.
Index slips below the 34 EMA and 50 SMA on the EOD charts #5.
MACD Histogram ticks up #6.
Bears break the support on the 13 SMA #3 - a strong place and head for a bearish cross of the 13 SMA and 5 EMA on the Medium term screen.
Position of the STS in the oversold shows that the Bulls are around for a comeback #4.



Bears retain control of the short & medium term.. 




Looking Forward into the next Week:

Channel top on the EOW, remains a major resistance #3.
Bouncing from the green bottom line of the new EOD channel #5 - Bulls could attempt a retake of the short term screen.
Index climbing back above the 13 SMA on the EOW #3, is critical for Bulls.
2 crows pattern that we studied last week to be followed up for its targets.
50 SMA and 200 SMA converge - see EOD, 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 - by month end - is important for Bulls to get a shot at new Highs.



Taking the index above 5969 to prevent the Bearish MA cross ( 13 SMA & 5 EMA) on the EOW Charts #3,  would keep the Bull in contention for a Bounce in the coming week..