Saturday, August 18, 2012

S&P 500 - Triple Screen 'Technical Analysis' - Week: 13 August to 17 August, 2012 - Meet the Last High !

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) - 17 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) - 17 Aug, 2012.
Above is the Week Chart - EOW -  analyzing Data from Q3 2011, 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) -  17 August, 2012.
Above is the Day Chart - EOD -  analyzing Data from Q2 2012, onward.

Learning from the Past Week:  (click here for the post)
RSI reading on the EOW (4) - stayed above the 70 mark, Bulls took off from where they were last week, to make it 6 green candles in a row - lucky 7?
Bulls have almost made it to the EOD channel top (5).
Negative Divergence on the MACD (6) and RSI (4) visible.
Bulls kept it above the 5 EMA and MVWAP 34, on all three screens.
The 'Three Inside Up' (1) has given Bulls a Green time this month.

Looking forward into the next Week:
RSI reading on the EOW (4), shows divergence and the MA3 has crossed the RSI9 bearishly, however, above the 70 mark, Bulls remain on top.
Bears need to break their nemesis of many weeks, the MVWAP 34 - after moving below the 5 EMA.
The Negative divergences seen on the EOD (6) and EOW (4) are harbingers of a downturn.
Bears would look at the white EOD channel top, giving them some resistance, to come back with, if and when the Index gets there.
Bulls continue on a 'Three Inside Up' (1), induced High!