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Monday, January 13, 2014

S&P 500 - Triple Screen 'Technical Analysis' - 2014 stays Red - Week 3 of January 2014.




S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 10 Jan'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 10 Jan'14


S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Oct'2013, onward - as on 10 Jan'14



Learning from last Week:  (click here for the previous post)


Patterns:

  • Bullish '3 Inside up' #M1, on the Long Term Charts kept November and December candles green, with a new ATH.
  • January '14 candle remains red #M1.
Support & Resistance:
  • Index closes above the 5 EMA on all screens #D1, #W1, #M1. 
  • Bulls stay below the EOW channel top resistance (orange line) #W1.
Moving Averages:  
  • On the EOD the 5 EMA poised to bearishly cross or bullishly deflect the 13 SMA #D1.
Indicators:
  • RSI 13, stays in the overbought #W2.
  • Month Chart Oscillator just below the overbought, as it has been after the August'13 Close #M2.


Wrap:
Bulls still see this year with a red hue, but retain strength - Bears continue to hold fort at the EOW channel top #D1, #W1..



Looking forward into this Week:


Patterns:
  • Long Term Chart's Bullish 'Three Inside up' (Study link herehere or elsewhere) #M1 - still active.
Support & Resistance:
  • MVWAP 34 and EOD channel Bottom on the Short Term Chart are Support for the Bulls.
  • 'All Time High' Line and the Channel Top #W1 are resistances.
Moving Averages:
  • Bears need to get below the 5 EMA on the EOW to get a life #W1.
  • Bulls need to keep the 5 EMA on the EOD above the 13 SMA to keep their life #D1.
Indicators:
  • Stochastic 34 3 4 in the overbought zone, works for the Bulls #D1.
  • Oscillator popping into the over-bought this month, can set the Bulls free #M1.  


Wrap:
Bears seek momentum with a bearish cross of the 5 EMA &13 SMA on the EOD - Bulls want to get green back into 2014 candle (Month/Year).