Saturday, September 1, 2012

S&P 500 - Triple Screen 'Technical Analysis' - Week: 27 August to 31 August, 2012 - Beat by 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) - 31 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) - 31 Aug, 2012.
Above is the Week Chart - EOW -  analyzing Data from Q2-Q3 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) -  31 August, 2012.
Above is the Day Chart - EOD -  analyzing Data from Aug' 2012, onward.

Learning from the Past Week:  (click here for the post)
A Bearish cross of the 5 EMA and 13 SMA (E) happens and a Bearish Three Inside down followed, as anticipated in our study (C). 
Bulls kept it above the MVWAP 34, on all three screens.
The 'Three Inside Up' (1) Keeps the Bulls Green, this month. 
The last High (made earlier this year) as a resistance, held back the Bulls.
Oversold position of the STS (B) and RSI (D) indicate the strength of the Bulls.
Bullish Harami on the EOD (E) - looks good for the Bulls.

Looking forward into the next Week:
Bears need to move the indicators at (B) and (D) below 'oversold' to make an impact.
Bulls need to break the last High made earlier this year to get moving.
Staying above the 1400 level, i.e. (5 EMA - weekly) - Bulls look at a bounce back, towards the last high.
The effects of the Bearish Three inside down (C) and the Bullish Three outside up (A) are still on, in opposite directions.
A possible Bullish 'Three Outside up' above last week's close (E) - threfore should give the Bulls some cheer.