S&P 500 - Triple Screen 'Technical Analysis' - Shooting Star - Week 2 of April 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 06 Apr'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 06 Apr'14

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Oct'2013, onward - as on 06 Apr'14

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

Patterns:

• Index continues its consolidation with a shooting star on the EOW #W1.. 

Support & Resistance:

• Bulls resisted near the current ATH, Index takes support at the Daily channel bottom again #D1. 

Moving Averages:  

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

Indicators:

• RSI 13, meanders to the 50s #W2.

Wrap:

Bears defend current ATH - Bulls close the week inside the Day channel #D1 

Looking forward into this Week:

Patterns:

• The weekly 'Shooting Star' (Study link here, here or elsewhere) candle is active  #W1. 

Support & Resistance:

• Bulls take support at the Daily Channel Bottom #D1 for the 2nd week now, while the Week Channel Top #W1 remains resistance.

Moving Averages:

• MVWAP 34 on the EOD #D1 is now the critical stop for Bulls #D1.  

Indicators:

• Stochastic 34 3 4, slipping below the over-bought zone, works for the Bears #D2. 

Wrap:

Bears look to get below 1836 - Bulls wish to keep the MVWAP 34 on the EOD below their hooves #D1.