S&P 500 - Triple Screen 'Technical Analysis' - New High :- Week: 16 September to 20 September: 2013.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 20 Sept'13

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 20 Sept'13

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from July'2013, onward - as on 20 Sept'13

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

Patterns:

• 'Three  Inside Up' studied last week gives the Bulls a new High #W1.
• 'Opening White Marubozus' also mentioned last week - help the up-move #W1.
• Bearish 'Head &Shoulder' Pattern fails to materialize early in the week #W1.

Support & Resistance:

• The New 'All time High' and the new Day Channel Top (Pink) were resistances #D1. 
• The short Term 5 EMA was support for the Bulls last week  #D1.

Moving Averages:  

• 5 EMA and 13 SMA stay crossed Bullishly on the EOD charts #D1.
• On the EOW - 5 EMA and 13 SMA stay Bullishly deflected #W1. 
• Index keeps above the 5 EMA on the Long Term Charts #M1.

Indicators:

• RSI 13 touches overbought #W2.
• Stochastic 34 3 4 also in over bought zone  #D2.
• Month Chart Oscillator remains below the over-bought, after the August Close #M2.

Wrap:

Bears lose their way, Bulls ride to a new High.. 

Looking forward into the next Week:

Patterns:

• On the Medium Term Chart the 'Three  Inside Up' which we studied using links from here, here or elsewhere, is still active.
• The last candle on the EOM and EOW Charts are bullish 'Opening White Marubozus' and they are worth a study here, here or anywhere. 

Support & Resistance:

• 13 SMA on the Short Term Chart is the nearest Support for the Bulls, while the new 'All Time High' #D1 is resistance.
• Beyond these the 76.4% Fibonacci Retrace #M1 - is the next major support and the Month Channel Top (blue) is the resistance seen, #M1.

Moving Averages:

• Staying above the 5 EMA on the EOM #M1 - shows long term strength of the Bulls.
• Staying above the 13 SMA on the Week Charts #W1 important for Bulls.

Indicators:

• Oscillator #M2 keeping below oversold favors the Bears.
• Stochastic 34 3 4 remaining in the over bought zone, works for the Bulls #W1

Wrap:

Bulls see the 'Marubozus' and the 'Three Inside Up' #W1, continuing the up-move - Bears want life below the 5 EMA on the EOD to start with #D1.

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bull Zone :- Week: 16 September to 20 September: 2013.

Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 20 Sept'13

Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 20 Sept'13

Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Aug' 2013, onward - as on 20 Sept'13

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

Patterns:

• The two Takuri Weeks we had seen here and here - give the Bulls a third 'Green' Weekly candle #3.
• Last candle resembles a 'High Wave' #3.
• Volume for the last candle on the EOW was High.

Support & Resistance:

• 200 SMA on the EOD was the support the Bulls kept tenaciously above, early last week #5. 
• 5915, the 76.4% Fibonacci retrace of the 'Jan'12 low to All time high' #5 was the resistance the Bulls cracked in the second half of last week.
• Checkmate for first half of the week - as the Index remained between above levels. Break out in the second half of the week.

Moving Averages:

• EOD - 50 SMA and 200 SMA stay crossed bearishly in a Death Cross #5. 
• EOM - Index stays above the 13 SMA #1, but the 5 EMA and 13 SMA stay Bearishly Crossed - Bearish overhang remains.
• EOW - 5 EMA and 13 SMA cross Bullishly #3. 

Indicators:

• Indicator #2 on the Month charts show Bulls above the mid-point.
• STS approaches overbought #4.
• MACD above the zero line - Histogram tick down #6.

Wrap:
After persisting above the 200 SMA for two weeks, Index breaks into the Bull Zone (above the 76.4% Fibonacci retrace of the 'Jan'12 low to All time high')..

Looking Forward into the next Week:

Patterns:

• The High Wave which appeared near the last peak (see post) produced a deep fall for the Bears .. a revision is good here, here or elsewhere.
• High volume Week with a High Wave candle helps bears.

Support & Resistance:

• Last week's EOD Chart showed the Bulls doing a Throw Back to the Channel Top - this week we see the followup move #5.
• The 76.4% Fibonacci retrace of the 'Jan'12 low to All time high' (5915) is the new support for the Index #5.
• EOD channel top is the next resistance for Bulls #5.

Moving Averages:

• 200 SMA and 50 SMA on the Day Charts remaining Bearishly Crossed #5, keeps the Bulls under pressure. 
• Bear overhang of the Long Term #1, breaks with the 5 EMA and 13 SMA crossing Bullishly - magic number Bulls need to clear in Sept'13 is 6016.

 Indicators:

• MACD remaining above zero #6 - critical for Bulls to stay in the game.

Wrap:

Bears need to get below 5915 to get back in the game. Current Bull run gets stronger if Bulls go & live above 6016.