S&P 500 - Triple Screen 'Technical Analysis' - Top Stop - Week 3 of June 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 13 June'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 13 June'14

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

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

Patterns:

• As studied last week, Strong Resistance was faced at Weekly Channel Top. This stops the Bull up move and produces a Bearish Harami #W1.

Support & Resistance:

• Index slips below the 5 EMA on the Day charts #D1, but stays above the 5 EMA on the Weekly #W1. 
• Weekly Channel Top was resistance #W1.

Moving Averages:  

• The 5 EMA and 13 SMA, poised for another deflection or Bearish Cross #D1 

Indicators:

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

Wrap:

Bulls retain control of the Medium and Long Term Screens - Bears defend the EOW channel top and dominate the Short Term Screen #W1.

Looking forward into this Week:

Patterns:

• The Medium Term Bearish Harami (Study link here, here or elsewhere) is active  #W1. 
• Following the Bearish Harami, Bears look to enforce a Three Inside Down  (Study link here, here or elsewhere) #W1.

Support & Resistance:

• 5 EMA on the EOW #W1 at a Index reading of 1921 is support for the week, while the Week Channel Top #W1 remains resistance.

Moving Averages:

• 5 EMA and 13 SMA could cross Bearishly below Index reading of 1928 (for Monday) - giving the Bears the short term screen #D1.

Indicators:

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

Wrap:

Bulls want life above the 5 EMA on the Day charts - Bear future lies below the 13 SMA on the Weekly charts after triggering a 3 inside down #W1.