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Monday, September 29, 2014

S&P 500 - Triple Screen 'Technical Analysis' - Sandwich Time? - Week 1 of October 2014.



S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 26 Sept'14


S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 26 Sept'14


S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Jan'14, onward - as on 26 Sept'14




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

Patterns:
  • Long Term Bullish Engulfing becoming a 3 outside up, is still possible by month end - see the last 3 Month candles #M1.
  • Pullback of Price to EOD channel bottom #D1a - completes and Index falls as studied.
  • Stick Sandwich Pattern forms on the EOW #W1.
Support & Resistance:
  • Bulls defend the 13 SMA on the EOW #W1.
  • Post Pull back to Channel bottom - Index continues with the fall as studied #D1a.
Moving Averages:  
    • 5 EMA and 13 SMA, cross Bearishly on the EOD #D1b.
    Indicators:
    • RSI 13 meanders to the 50s #W2.
    • TSI continues holding, above its crucial Fibonacci level #M2.

    Wrap:
    Bears get back lost ground as Index falls from channel bottom #D1a.
    Bulls come back from below to take support at 13 SMA (EOW) #W1.




    Looking forward into this Week:


    Patterns:

    • Stick Sandwich Pattern (Study Links herehere or elsewhere) active in the Medium Term screen #W1.
    • Bullish Engulfing on long term charts, failing to evolve into a 3 outside up (Study Links herehere or elsewhere) - would be a setback for Bulls, to be watched for until month end #M1.
    Support & Resistance: 
    • New EOD channel Top #D1b and the ATH, are resistances.
    • The 13 SMA on the EOW (1976) is the Support Bulls would want to defend again #W1.
    Moving Averages:
    • A slip to above the 5 EMA on the EOW(1991) is what Bears would want to avoid now #W1.
    Indicators:
    • STS diving to the over sold, works for the Bears #D2.


    Wrap:
    Bulls should look to defend the 13 SMA on the EOW and make new ATHs #D1b.
    Bears would try to deny the Bulls a  3 outside up on the Month Chart #M1.