Monday, November 4, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Long Term '3 inside up' - Week 1, November 2013.


S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 01 Nov'13



S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 01 Nov'13



S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from July'2013, onward - as on 01 Nov'13




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




Patterns:
  • As studied earlier - August and September Candles form a Bullish Harami  (Study Link herehere or elsewhere) #M1. October closes above September and makes it a 'Three Inside up'.
Support & Resistance:
  • The Month Channel Top (blue) resistance was cleared by the Bulls last week with a new ATH , new channel shown  #M1 - This is current resistance.
  • 13 SMA on the EOD was the support #D1.
Moving Averages:  
  • Bulls slip below the 5 EMA on the EOD last week #D1.
Indicators:
  • RSI 13 remains below the overbought #W2.
  • Month Chart Oscillator remains below the over-bought, after the August Close #M2.


Wrap:
Bulls get the 'Three Inside Up' on the Long Term and make another new 'ATH'



Looking forward into the next Week:


Patterns:
  • October closing above September's close makes it a Bullish 'Three Inside up' (Study link herehere or elsewhere) - now to hold the line..
Support & Resistance:
  • 34 EMA  and 200 SMA on the Short Term Chart are Support for the Bulls, while the 'All Time High' Line and the 3 Channel Tops #D1 are resistances.
Moving Averages:
  • Slipping below the 5 EMA on the EOD #D1 - shows loss of momentum for Bulls.
Indicators:
  • RSI staying below the oversold, with its divergence to Price (arrow) #W2, plus for Bears.
  • Stochastic 34 3 4 staying in the over bought zone, works for the Bulls #D1


Wrap:
Bulls get the 'Three Inside Up' #M1, in October - Bears aim to keep the index below the 5 EMA #D1 .