Monday, October 6, 2014

S&P 500 - Triple Screen 'Technical Analysis' - Sandwich Time 2 - Week 2 of October 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 03 Oct'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 03 Oct'14

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Jan'14, onward - as on 03 Oct'14

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

  • Long Term Bullish Engulfing fails to become a three outside up, see the last 4 Month candles #M1.
  • Stick Sandwich Pattern on the EOW active, Green seen for last two days #W1.
Support & Resistance:
  • Bulls defend the MVWAP 34 on the EOW #W1.
  • Post fall to Channel bottom - Index bounces back #D1.
Moving Averages:  
    • 5 EMA and 13 SMA, poised to deflect or cross on the EOW #W1.
    • RSI 13 meanders below the 50s #W2.
    • TSI continues holding, above its crucial Fibonacci level #M2.

    Bulls get back some lost ground after Index bounces off channel bottom #D1.
    Earlier in the week Bears force Index down to the MVWAP 34 (EOW) #W1.

    Looking forward into this Week:


    • Stick Sandwich Pattern (Study Links herehere or elsewhere) active in the Medium Term screen #W1.
    • Bullish Engulfing on long term charts, fails to evolve into a 3 outside up (Study Links herehere or elsewhere) #M1.
    Support & Resistance: 
    • New EOD channel Top #D1 and the ATH, are resistances.
    • The MVWAP 34 #W1 and the EOD Channel Bottom #D1 are the Supports.
    Moving Averages:
    • The 5 EMA and 13 SMA on the EOW deflect Bullishly above 1959 for this week #W1.
    • STS in the over sold, works for the Bears #D2.

    Bulls look to defend the MVWAP 34 on the EOW and get back to the ATHs #W1.
    Bears, after denying the Bulls a '3 outside up' last month #M1, look at closing below 1959.