S&P 500 - Triple Screen 'Technical Analysis' - Channel Top Continuum - Week 4 of March 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 21 Mar'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 21 Mar'14

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Oct'2013, onward - as on 21 Mar'14

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

Patterns:

• Index forms another weekly 'Opening White Marubozu' #W1, month candle goes green #M1. 

Support & Resistance:

• Bulls resisted near the current ATH, Index closes above the Daily 13 SMA #D1. 

Moving Averages:  

• On the Day Chart, the 5 EMA and 13 SMA meet #D1. 

Indicators:

• RSI 13, continues to meander in the 60s #W2.
• We shall use the True Strength Indicator (with a Fibonacci between its High and Low) on the long term charts #M1

Wrap:

Bears defend current ATH - Bulls close the week above the 13 SMA on the EOD #D1 

Looking forward into this Week:

Patterns:

• The second weekly 'Opening White Marubozu' (Study link here, here or elsewhere) of March is now active #W1. 

Support & Resistance:

• 13 SMA on the Week Charts (1833) #W1, continues as support for the Bulls, while the Week Channel Top #W1 remains resistance.

Moving Averages:

• Bullish cross or Bearish Deflection of the 5 EMA and the 13 SMA on the EOD #D1 is on the cards as they are in touch. 

Indicators:

• Stochastic 34 3 4, staying in the over-bought zone, works for the Bulls #D2. 
• TSI #M1 again comes back to test the 76.4% Fibonacci retrace line (indicator moved to above this retrace in early 2013).

Wrap:

Bears hope to get below 1833 - Bulls need the 5 EMA crossing above the 13 SMA on the EOD #D1.