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

Monday, February 17, 2014

S&P 500 - Triple Screen 'Technical Analysis' - Bulls hammer up - Week 3 of February 2014.




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




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




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




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

Patterns:

  • Bulls use the Hammer Candle at the bottom of the dive to go green another week #W1. 
  • Month Screen shows a 'Deliberation Candle Pattern - 3 green candles' followed by the Jan and Feb'14 candles #M1,
Support & Resistance:
  • Desperate Bears fail to defend the 13 SMA on the Week charts #W1 - Bulls get fresh life above the MVWAP 34 #D1.
Moving Averages:  
  • On the Week Chart #W1 and Day Charts #D1, the 5 EMA bullishly crosses above the 13 SMA,  
Indicators:
  • RSI 13, meanders in the 50s #W2 while the Stochastic makes it to the over-bought  #D1


Wrap:
Bulls hammer two green weeks in a row - Bears lose hold of all 3 time-frames and look to the ATH for defense.




Looking forward into this Week:


Patterns:
  • The 'Deliberation Candle Pattern' (Study link herehere or elsewhere) needs consideration #M1. 
  • Week Chart's Hammer (Study link herehere or elsewhere) is still active #W1. 
Support & Resistance:
  • MVWAP 34 on the Short Term Chart is now support for the Bulls, while the All Time High (ATH) #M1 is resistance.
Moving Averages:
  • Bears need to get the index below the 13 SMA (1814) #W1 to get back into the game - Bulls want the a new ATH #M1.
Indicators:
  • Stochastic 34 3 4, staying in the over-bought, works for the Bulls #D2.  


Wrap:
Bears desperately want to get the index back below the 13 SMA #W1 (1814) - Bulls seek momentum to make a new ATH ..