S&P 500 - Triple Screen 'Technical Analysis' - Bulls hammer a green week - Week 2 of February 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 07 Feb'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 07 Feb'14

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Oct'2013, onward - as on 07 Feb'14

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

Patterns:

• Bulls pull off a Hammer Candle at the bottom of the dive to produce a green week #W1. 
• Month Screen shows a 'Deliberation Candle Pattern - 3 green candles' followed by the Jan and Feb'14 candles #M1,

Support & Resistance:

• Bulls close just above the 5 EMA (1771) on the Monthly chart #M1 while the MVWAP 34 acts as support #W1..

Moving Averages:  

• On the Week Chart, the 5 EMA remains in a Bearish Cross with the 13 SMA, the same MAs on the Day chart are poised for Bearish Deflection or Bullish Cross #W1. 

Indicators:

• RSI 13, meanders in the 50s #W2 while the Stochastic looks up  #D1

Wrap:

Bulls after consolidating the previous week, hammer a green week - Bears lose Short Term advantage but hold the Medium Term outlook at neutral..   

Looking forward into this Week:

Patterns:

• The 'Deliberation Candle Pattern' (Study link here, here or elsewhere) needs consideration #M1. 
• Week Chart's Hammer (Study link here, here or elsewhere) is now active #W1. 

Support & Resistance:

• MVWAP 34 on the Short Term Chart remains resistance for the Bulls, while the Month Chart's 5 EMA (1771) is again the Support.

Moving Averages:

• Bears need to keep the index below the 13 SMA (1811) #W1 to stay in the game - Bulls want the 5 EMA above the 13 SMA on the day chart #D1.

Indicators:

• Stochastic 34 3 4, edging above the over sold, works for the Bulls #D2.  

Wrap:

Bears desperately want to hold the index below the 13 SMA #W1 (1811) - Bulls see fresh life above the MVWAP 34 #D1..