Sunday, March 10, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Week: 04 March to 08 March, 2013 - Triple Tops & Channel Pops



S&P 500 - End of  Month Chart (EOM) - Channel showing the Triple Top - from 1999 - as on 08 March'13




S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 08 March'13




S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from OND, 2011 onward - as on 08 March'13




S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 08 March'13




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

Price Pops above the Month Channel Top - #M1, #W1 & #D1 - Bulls on a roll..
Triple top on Long Term Charts - #1, #2, & #3, a matter of solace for Bears.
Earlier in the week, the MAs we were watching - cross to give the Bulls required momentum #D1.
White arrows #D1 indicate the confluence of the all time high made by the SP500 and the Day channel - our next resistance.
RSI #W2, and its MA re-cross bullishly & the action at the STS #M2 emphasize the Bull's Long Term Strength.
Bulls have all the three screens now. 



Bulls control all three screens - Bears have the Triple Top to talk about.




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:

Month channel's, top red line #M1, is now support for the Bulls.
Price heading for the all time high of the SP500 - see white arrows #D1.
Getting the price, below the 5 EMA on the EOW #3, is the next task for the Bears.
Triple Top on the Long Term Screen, remains the bane of the Bulls for some more time.
Triple tops can be studied here, here or anywhere else, should you need a recap.
Bulls for now rule the screens..



Month Channel's red Top Line is now support and the two white arrows on the Day Screen #D1 shows possible resistance.