S&P 500 - Triple Screen 'Technical Analysis' - ATH Try - Week 3 of May 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 09 May'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 09 May'14

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Dec'13, onward - as on 09 May'14

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

Patterns:

• Bulls get shy near ATH produce a Doji week #W1.
• Combination of last two weekly candles makes a Harami Cross #W1.

Support & Resistance:

• Index faces resistance near the ATH even as the 13 SMA #W1, was near support.

Moving Averages:  

• The 5 EMA and 13 SMA #D1 - on the short term screen - touch for last 3 days. 

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.

Looking forward into this Week:

Patterns:

• Doji Candle Pattern (Study link here, here or elsewhere) is active  #W1. 
• Harami Cross (Study link here, here or elsewhere) seen as a Continuation Pattern is also active and can produce a Three Inside Down (Study link here, here or elsewhere) if this week closes below 1878.

Support & Resistance:

• Bulls see support at the 13 SMA (1859) #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 1835 for this, the third consecutive week.
• 5 EMA and 13 SMA on the EOD touching for last three days, can produce Bullish Deflection or Bearish Cross #D1.

Indicators:

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

Wrap:

Bulls need to try for another ATH - Bear future lies below the 13 SMA on the Weekly charts #W1.