S&P 500 - Triple Screen 'Technical Analysis' - ATH - Week 4 of May 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 16 May'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 16 May'14

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Dec'13, onward - as on 16 May'14

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

Patterns:

• Bulls try and get a new ATH - after the Doji we have a High wave last week #W1.
• Combination of last three weekly candles makes a Three Inside Down #W1 but by a margin too close for Bear Comfort.

Support & Resistance:

• Index fails to hold gains - the 13 SMA #W1, was near support.

Moving Averages:  

• The 5 EMA and 13 SMA #D1 - on the short term screen - deflected Bullishly last week.. 

Indicators:

• RSI 13, stagnates in the 60s #W2.
• TSI continues holding above its crucial Fibonacci level #M2.

Wrap:

Bulls dominate all 3 screens - Bears defend the current ATH (All time High).

Looking forward into this Week:

Patterns:

• The High wave Candle Pattern (Study link here, here or elsewhere) is active  #W1. 
• Harami Cross (Study link here, here or elsewhere) seen as a Continuation Pattern produces a Three Inside Down (Study link here, here or elsewhere) by a slender margin - needs watching.

Support & Resistance:

• Bulls see support at the 13 SMA (1862) #W1, while the Week Channel Top #W1 remains resistance.

Moving Averages:

• 5 EMA and 13 SMA on the EOW #W1 would cross bearishly at a Index reading below 1841.
• 5 EMA and 13 SMA on the EOD #W1 would cross Bearishly below 1884 or deflect Bullishly above this on Monday.

Indicators:

• Stochastic 34 3 4, moving back into the over-bought zone, works for the Bulls #D2. 

Wrap:

Bulls want to cross and stay above current ATH - Bear future lies below the 13 SMA on the Weekly charts #W1.