Saturday, October 13, 2012

S&P 500 - Triple Screen 'Technical Analysis' - Week: 08 October to 12 October, 2012 - Bulls manage to hold the Week..

S&P 500: Long Term View (or) Month Chart (each candle is 1 month's price)  (or) EOM Chart: 
S&P 500 - End of  Month Chart (EOM) - 12 October, 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) (or) EOW Chart:
S&P 500 - End of  Week Chart (EOW) - 12 October, 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) -  12 October, 2012.
Above is the Day Chart - EOD -  analyzing Data from Oct'2012, onward.

Learning from the Past Week:  (click here for the post)
After the consolidation of the previous 4 weeks - bears force the index down below the Week's channel bottom - producing a Bearish Engulfing in the bargain (c).
Bulls hold the Price above the 13 SMA on the Week Chart (c) - just about saving the week.
Bears move it below the 5 EMA on the Medium and Short term chart (c,e).
There is a bearish cross of the 5 EMA and 13 SMA on the the EOD (e). 
Bears see off the RSI, to below the oversold bar (d).
Index falls belwo the MVWAP 34 on the EOD (e).
Positive Divergence develops on the MACD Histogram (f).
Month candle turns red (a).

Looking forward into the next Week:
Bears are almost back.
Taking it it above the 5 EMA on the EOD and EOW (c,e)- is critical for the Bulls.
Barely holding the Green (c) on the Week charts - Bulls need to take it back into the Week Channel  to remain in contention.
Bears look to keep it below the MVWAP 34 on the EOD (d).
Positive divergence on the EOD (f) gives the Bulls hope.
Position of the STS (b) indicator shows Bull strength.
The followup for the Bearish Engulfing is the Three Outside Down (c) - for this to happen the Bears have to keep the next week's close below last week's -  one thing  we look out for.