Monday, September 1, 2014

S&P 500 - Triple Screen 'Technical Analysis' - Starry Highs - Week 1 of September 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 29 Aug'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 29 Aug'14

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Jan'14, onward - as on 29 Aug'14

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

  • Long Term Bullish Engulfing forms - see the last two Month candles #M1.
  • 'Opening White (Green in our chart) Marubozu' studied last week - works for the Bulls  -  #W1.
  • Evening Star possibility apparent on the Weekly charts #W1.
Support & Resistance:
  • Index rises along EOD channel's top line, even as it breaches 2K #D1.
  • Bullish cross/deflection of the 5 EMA and 13 SMA, stays on the EOW #W1.
Moving Averages:  
    • Bulls close the week above all the MAs we track on all screens.
    • RSI 13 meanders in the 60s #W2.
    • TSI continues holding, above its crucial Fibonacci level #M2.

    Bears still control no screens, Bulls get to a landmark new ATH.

    Looking forward into this Week:


    • Possibility of Evening Star formation (Study Links herehere or elsewhere)  on the EOW exists #W1.
    • Bullish Engulfing on long term charts can evolve into a 3 outside up (Study Links herehere or elsewhere) - to be watched for #M1.
    Support & Resistance: 
    • EOD channel Top #D1 and the ATH are resistances.
    • The 13 SMA on the EOD (1986 for Monday) is the Support Bulls would want to defend #D1.
    Moving Averages:
    • The critical 5 EMA and 13 SMA on the EOW, after a Bullish deflection, continue to help index higher #W1
    • TSI holding above the Fibonacci level 76.4%, works for the Bulls #M2.

    Bulls seek to defend the 13 SMA on the EOD #D1.
    Bears look to continue to defend the EOD channel's top line #D1.