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Sunday, March 24, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Week: 18 March to 22 March, 2013 - Month Channel Top holds..



S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 22 March'13



S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from OND, 2011 onward - as on 22 March'13



S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 22 March'13




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

Price takes support on the Month Channel Top - #M1, #W1 & #D1 - Bears fail to bring it below this support.
Triple top on Long Term Charts - keeps the Bear hopes high.
Bulls keep index above the 5 EMA on all three screens.
RSI #W2, and its MA re-crossed bearishly.
The action at the STS #M2 emphasize the Bull's Long Term Strength.
The 5 EMA and 13 SMA on the Day screen #D1 meet for deflection or cross next week.
Bulls just about retain control of the three screens this week. 



Bulls control all three screens and foil the Bear attack the Month channel top.



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:

Bearish Harami forms on the Week Charts #W1 - next candle decides 'Three inside down'.
Three Inside Down Candle Pattern can be revised here, here or anywhere else.
Month channel's, top red line #M1, continues as support for the Bulls.
Bulls aim for the all time high of the SP500 (1576) - line marked #M1.
Price, below the 5 EMA on the EOW #3, is the point where the bears see strength.
Triple Top on the Long Term Screen, remains the bane of the Bulls for some more time
5 EMA and 13 SMA on day charts touch - poised for deflection or cross #D1.



Action on the MAs #D1 and the follow up candle on the Week Screen #W1, to determine direction in the coming week.





CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 18 March to 22 March, 2013 - Three Outside Down ?



Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 22 March'13




Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 22 March'13




Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Nov' 2012, onward - as on 22 March'13





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

We saw the 61.8% Fibonacci retrace of the last low (Jan'12) from Nifty's all time high #1, as support last week.
Price came down to this level and closed exactly at this line last Friday #1, #5a & #5b.
Month Chart shows the last three candles showing a potential 'Three Outside Down.' #1
Position of the STS on the EOW, shows a possible Bull comeback #4.
The 5 EMA moving below the 13 SMA, on the Day Charts, triggered the fall as studied last week #5.



Price lands exactly on the  61.8% Fibonacci retrace of the last low (Jan'12) from Nifty's all time high #1.





Looking Forward into the next Week:

50 SMA and 200 SMA, convergence towards a death cross to be watched #5.
Getting above 5919, 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.
Support line on the STS #4, to be watched. 
The close of this month's candle (this last week) would decide it we have a 'Three Outside Down' on the Long Term Charts #1.
Good enough reason to read it up here, here or elsewhere !




The 61.8% Fibonacci retrace (5650) of the last low (Jan'12) from Nifty's all time high #1, remains support - failure by Bulls to take index above last Month's close (5693) makes it a 'Three Outside Down' - so our resistance is 5693.