S&P 500 - Triple Screen 'Technical Analysis' - Channel Support Hammer - Week 4 of October 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 17 Oct'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 17 Oct'14

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Jan'14, onward - as on 17 Oct'14

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

Patterns:

• Weekly Candle is a Hammer #W1.
• Index falls below the Weekly Channel Bottom and closes both above the Monthly Channel Bottom #M1 and our mark of 1883.

Support & Resistance:

• Bulls defend the Month channel bottom on the EOM #M1, and stay above the 13 SMA on the Month Chart #M1.
• Bears have it good as they crack the 200 SMA, on the EOD and the EOW channel Bottom #W1.

Moving Averages:  

• 5 EMA and 13 SMA, cross Bearishly on the EOW #W1.

Indicators:

• RSI 13 down to the 40s #W2.

Wrap:

Bulls take support near the Long Term Channel bottom #M1 and hold out a Hammer. 
Bears get below the 200 SMA, and control the Short and Medium Term Screens #W1.

Looking forward into this Week:

Patterns:

• Hammer (Study Links here, here or elsewhere) active in the Medium Term screen #W1.
• Long Term Channel #M1, is support for the Bulls this week and Medium Term Channel Bottom is resistance #W1.

Support & Resistance: 

• EOW channel Bottom #W1, and the MVWAP 34 (EOW), are resistances.
• The EOM channel bottom #M1, and the Monthly 13 SMA (1883) #M1, are the Supports.

Moving Averages:

• The Index is above the 13 SMA on the EOM i.e 1883 #M1.
• 5 EMA for Monday (next trading day), is also 1883 #D1.

Indicators:

• TSI looks for support, near the 61.8% Fibonacci retrace #M2.

Wrap:

Bulls look to hammer a defense at 1883, defending the Monthly Channel Bottom #M1. 
Bears look to hold below the Weekly Channel Bottom and the MVWAP 34 #W1.