S&P 500 - Triple Screen 'Technical Analysis' - Touch 'n gone up - Week 4 of August 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 22 Aug'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 22 Aug'14

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Jan'14, onward - as on 22 Aug'14

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

Patterns:

• Long Term Bullish Engulfing forming - see the last two Month candles #M1.
• Weekly candle shows up as a 'Opening White (Green in our chart) Marubozu' #W1.

Support & Resistance:

• Index pops out of old EOD channel - new channel leads to new ATH #D1.
• Index gets a Bullish cross of the 5 EMA and 13 SMA, on the EOW last week #W1.

Moving Averages:  

• Bulls close the week above all the MAs we track on all screens.

Indicators:

• RSI 13 meanders in the 60s #W2.
• TSI under pressure. to continue holding, above its crucial Fibonacci level #M2.

Wrap:

Bears lose all screens, Bulls get to a new ATH.

Looking forward into this Week:

Patterns:

• 'Opening White (Green in our chart) Marubozu' (Study Links here, here or elsewhere)  on the EOW is active #W1.
• Long Term Bullish Engulfing forming (Study) - to be watched for #M1.

Support & Resistance:

• EOD channel Top #D1 and the ATH are resistances.
• The meeting point for the Medium Term 5 EMA & 13 SMA (1955) #W1, is the support Bears need to break.

Moving Averages:

• The critical 5 EMA and 13 SMA on the EOW, will stay on Bullish deflection course, if Index keeps above 1955, this week #W1. 

Indicators:

• TSI holding above the Fibonacci level 76.4%, works for the Bulls #M2.

Wrap:

Bulls seek continued deflection of the 5 EMA and 13 SMA #W1, by keeping above 1955.
Bears hope to defend the EOD top line #D1.