Monday, August 25, 2014

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 herehere 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.