Sunday, January 27, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Week: 21 January to 25 January, 2013 - Bulls build on gain

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 25 Jan '13

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 25 Jan '13

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 25 Jan '13

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

Channel top resistance #D1 continues to stifle the Bulls, despite another green week.
#D2 and #W2 shows the Divergence developing on this up move.
#M1, #W1 - indicate that the Month Channel's red top line is closing in on the priceline.
Bulls are on top on all the three screens as of now.

Bulls are on a Song and its only the Day Channel's top red line #D1 and the Divergences #D2 & #W2, that could play spoil sport..

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:

Day channel's, top red line #D1, continues to be resistance for Bulls.
The MVWAP 34 on the EOD, #D1is the likely support.
RSI #W2, moving into the oversold zone, indicate long term strength of Bulls.
RSI #W2, causing another 'Lower High' is not good for Bulls.
Divergences and possibility of a Bearish MA cross 13 SMA with 5 EMA on the Day charts #D1 are the Bear hope.

Bulls retain control of all the three screens, a bearish MA cross #D1, could give the Bears a break.