Sunday, March 17, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Week: 11 March to 15 March, 2013 - All Time High Next ?

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 15 March'13

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from OND, 2011 onward - as on 15 March'13

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 15 March'13

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

Price stays above the Month Channel Top - #M1, #W1 & #D1 - Bulls keep rolling on..
Triple top on Long Term Charts - a matter of solace for Bears.
Bulls keep index above the 5 EMA on all three screens.
RSI #W2, and its MA crossed bullishly & the action at the STS #M2 emphasize the Bull's Long Term Strength.
Bulls keep the three screens this week too. 

Bulls control all three screens - Bears have the Triple Top to hope for.

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, continues as support for the Bulls.
Price heading for the all time high of the SP500 (1576) - line marked #M1.
Getting the price below the Month Channel Top (1543 for this month) gives the Bears an edge.
Price, below the 5 EMA on the EOW #3, is the point where the bears see strength.
Triple Top on the Long Term Screen, remains the bane of the Bulls for some more time.
Bulls dominate all three screens now..

Month Channel's red Top Line is now support and the 'All Time High Line' shows possible resistance #M1 or #W1.