Monday, March 3, 2014

S&P 500 - Triple Screen 'Technical Analysis' - Bull Continuum - Week 1 of March 2014.



S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 28 Feb'14


S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 28 Feb'14


S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Oct'2013, onward - as on 28 Feb'14



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


Patterns:

  • Bulls make a weekly 'Opening White Marubozu' near the ATH #W1. 
  • Month Screen shows a 'Deliberation Candle Pattern - 3 green candles' followed by the Jan and Feb'14 candles #M1,
Support & Resistance:
  • Bulls keep it above the 5 EMA on the Week charts #W1 and nudge up the ATH intra-week. #W1.
Moving Averages:  
  • On the Day Chart, the 5 EMA and 13 SMA poised to touch #D1. 
Indicators:
  • RSI 13, continues to meander in No-Man's land #W2 while the Stochastic keeps it to the over-bought  #D1


Wrap:
Bulls make a new ATH - Bears lose control of all Time Frames..




Looking forward into this Week:


Patterns:
  • The 'Deliberation Candle Pattern' (Study link herehere or elsewhere) needs consideration #M1. 
  • Weekly 'Opening White Marubozu' (Study link herehere or elsewhere) gives Bulls hope of a  Continuum #W1. 
Support & Resistance:
  • 13 SMA on the Medium Term Chart #W1, is now support for the Bulls, while the All Time High (ATH) #M1 is resistance.
Moving Averages:
  • Bears need to get the index below the 13 SMA (1821) #W1 to get back into the game - Bulls seek  continuum to a new ATH #M1.
Indicators:
  • Stochastic 34 3 4, staying in the over-bought, works for the Bulls #D2.  


Wrap:
Bears target the 13 SMA #W1 (1821) - Bulls seek momentum to continue to make new ATHs.