Saturday, August 4, 2012

S&P 500 - Triple Screen 'Technical Analysis' - Week: 30 July to 03 August, 2012 - Three Inside up Month !

S&P 500: Long Term View (or) Month Chart (each candle is 1 month's price move)  (or) EOM Chart:  
S&P 500 - End of  Month Chart (EOM) - 03 Aug, 2012
Above is the Month Chart - EOM - analyzing Data from mid 2009 onward.

S&P 500: Medium Term View (or) Week Chart (each candle is 1 week's price move) (or) EOW Chart:  
S&P 500 - End of  Week Chart (EOW) - 03 Aug, 2012.
Above is the Week Chart - EOW -  analyzing Data from Q1 2012 onward.

S&P 500: Short Term View (or) Day Chart (each candle is 1 day's price move)  (or) EOD Chart:   
S&P 500 - End of  Day Chart (EOD) -  27 July, 2012.
Above is the Day Chart - EOD -  analyzing Data from Q3 2012 onward.

Learning from the Past Week:  (click here for the post)
The Bullish 'Three Inside Up' pattern seen on the EOM (1) - happens and its resultant green is visible on the August candle.
Bears dived towards the MVWAP 34 on the EOD (5) and EOW (3) - from where the Bulls bounced back to get a green week - just like last week.
RSI readings on the EOW (4) climbed and moved into the oversold zone - good for bulls.
The Divergence on the MACD (6) is disturbed this week.

Looking forward into the next Week:
RSI reading on the EOW (4) - staying above the 70 mark, keeps the Bulls on top.
Bears need to break their nemesis of many weeks, the MVWAP 34.
STS strength and crossover (2), indicates Bull Power.
Bulls holding their turf for the beginning of August - indicates strength - as the 'Three Inside Up' (1) has given them a fillip. 
Bears would look at the white EOD channel top, giving them some resistance, to come back with next week.