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Sunday, December 9, 2012

S&P 500 - Triple Screen 'Technical Analysis' - Week: 03 December to 07 December, 2012 - Bulls nibble on Green



S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 07 December, 2012 


S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug' 2011 onward - as on 07 December, 2012


S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 07 December, 2012





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

Bulls after averting a Three Inside Down #1 last month - consolidate with a small green candle this week.
%D and %K on the STS #2,  have crossed bearishly.
Bullish Cross or Bearish Deflection of the 5 EMA and 13 SMA on the EOW #3 - awaited.
Index slithers along. at or around the bottom line. of the EOW channel #3 and #5.
Bulls manage to keep above the 34 MVWAP on the EOD #5.
Bearish Cross of the 5 EMA, to below the 13 SMA on the EOD #5 - seems on. 



Last week again saw the Bulls maintain status 'quo on the medium term, and they continue to retain  control of the Long Term Charts.





Looking forward into the next Week:

Bearish Crosses of critical MAs that we track, possible next week on EOW and EOD  #3, #5.
Bulls need to move back decisively into the EOW channel to avert a slide #3.
Above the 5 EMA the Bulls retain Long Term strength  #1.
Resistance continues at the EOW channel bottom, support is at the '23.6% Fibonacci retrace of the Oct'07 High and Mar'09 Low' #1.



Bulls continue to nudge ahead - the Bears are yet to show that they mean Business.



CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 03 December to 07 December, 2012 - Three Outside Up !?




Nifty 50: Long Term View (or) Month Chart, each candle is 1 month's price action (or) EOM Chart:
CNX Nifty 50 - End of Month (EOM) Chart - 07 December, 2012
  Above is the Month Chart - EOM -  analyzing Data from 2008 onward.



Nifty 50: Medium Term View (or) Week Chart, each candle is 1 week's price action (or) EOW Chart:
CNX Nifty 50 - End of Week (EOW) Chart - 07 December, 2012
 Above is the Week Chart - EOW -  analyzing Data from Mid 2011 onward.



Nifty 50: Short Term View (or) Day Chart, line chart of closing Prices  (or) EOD Chart:
CNX Nifty 50 - End of Day (EOD) Chart - 07 December, 2012
Above is the Day Chart - EOD - analyzing Data from July 2012, onward. 




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

Bulls close November with an Bullish 'Engulfing Pattern' on the Long Term Charts #1 and follow it up with the beginnings of an even more Bullish 'Three Outside up' candlestick pattern.
The Short Fuse indicator, shows a down start to December as of now #2.
The resistance #4 on the the STS indicator - looks like its holding the Price.
Bears send back the Bulls at our identified resistance line - the 'Intra year high of April 2011' on the EOD - this was the next available High on the Charts #5.
MACD histogram is ticking down #6.


The Nifty has moved up in a sedate fashion last week after the Bull Frenzy previously seen. For the Bears critical resistances have done their work last week.





Looking Forward into the next Week:

A Three Outside up on the long term chart #1 is great news for the Long Term Bulls - So watch if the price closes December above last month's close - as studied in the links above.
Bulls would aim for the red Channel top on the EOW chart next #3.
Bears would want to keep it below our resistance line on the EOD #5.
The resistance line on the STS indicator #4 has given us inputs earlier - now it implies Bulls are on hold.
Staying above the 5EMA on the EOD #5 - Bulls have it good.


Breaking current resistances and producing a 'Three Outside up' on the Month Chart, is the Bull plan. Step 1 is to stay above the EOD resistance as marked.