Sunday, January 13, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Week:Week: 07 January to 11 January, 2013 - Bulls Hold Highs

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 11 Jan '13

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 11 Jan '13

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 11 Jan '13

Learning from the Past Week:  (click here for the post)

Channel top resistance #D1 was used by the Bears, to pause the Bull run just like we anticipated last week.
#D2 indicates that Divergence is developing on this up move.
On the long term charts - the %K & %D meet and cross bullishly as of now..#M2.
The last 4 candles on the Long term candles resemble a Bullish 'Three Inside up' and the results show, that the Bulls got some results.

Last week saw the Bulls hold their Highs - Bears saw the Day Channel top #D1, as a good resistance.

The Ellipses marked #M1, #W1 and #D1 indicate the hot spots on the long, medium and short term charts respectively.
As one can see - we are zooming into the action starting #M1 through #W1 and get up close in #D1.

Looking forward into the next Week:

Channel top resistance #D1 continues to be resistance for Bulls.
The MVWAP 34 on the EOD, #D1is the likely support.
STS position #2, in the oversold zone, indicate long term strength of Bulls.
Divergence on the Day Charts #D2 is good news for Bears.

Bulls retain control of all the three screens - Bears continue to depend on the short term Channel's 'red top line' #D1 along with divergence at #D2.