S&P 500 - Triple Screen 'Technical Analysis' - Red 2014, Bears Move - Week 5 of January 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 24 Jan'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 24 Jan'14

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Oct'2013, onward - as on 24 Jan'14

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

Patterns:

• Bullish '3 Inside up' #M1, on the Long Term Charts kept November and December candles green, with a new ATH.
• January 2014 candle remains red #M1.

Support & Resistance:

• Bears move Index below the 5 EMA on weekly chart, even as the MVWAP and Channel Bottom fail to support the Bulls #W1.
• Bulls stay above the 5 EMA on the Monthly chart #M1.

Moving Averages:  

• On the EOD the 5 EMA bearishly crosses below the 13 SMA mid-week #D1.
• On the EOW the 5 EMA poised to - deflect Bullishly or Cross Bearishly - the 13 SMA #W1. 

Indicators:

• RSI 13, slips from the overbought #W2.
• Month Chart Oscillator below the overbought, as it has been after the August'13 Close #M2.

Wrap:

Bulls saw red all year and now lose strength - Bears take the Short Term and close to taking the Medium Term too..   

Looking forward into this Week:

Patterns:

• Long Term Chart's Bullish 'Three Inside up' (Study link here, here or elsewhere) #M1 - seems spent.
• Medium Term Chart shows a Bearish 'Three Inside Down' (Study link here, here or elsewhere) with the last three candles #W1. 

Support & Resistance:

• MVWAP 34 and EOD channel Bottom on the Short Term Chart are now resistance for the Bulls.
• Medium Term MVWAP 34 #W1, is the next Support.

Moving Averages:

• Bears need to stay below the 5 EMA on the EOW (1817) to stay in the game #W1.
• Bulls need to keep the 5 EMA on the EOW above the 13 SMA (i.e. keep above 1793) to get some life back #W1.

Indicators:

• Stochastic 34 3 4 heading to the over sold, works for the Bears #D1.
• Oscillator popping into the over-bought this month, can set the Bulls free #M1.  

Wrap:

Bears seek to keep their momentum with a stay below 1817 - Bulls want life back and the Index above 1793.