Monday, November 25, 2013

S&P 500 - Triple Screen 'Technical Analysis' - More 3 inside up gains - Week 4 of November 2013.


S&P 500: Long Term View (or) EOM Chart (or) Month Chart - each candle is 1 month's price action 



S&P 500: Medium Term View (or) EOW Chart (or) Week Chart - each candle is 1 week's price action



S&P 500: Short Term View (or) EOD Chart (or) Day Chart - each candle is 1 day's price action




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


Patterns:

  • Bullish 'Three Inside up' #M1, on the Long Term Charts keeps November green to date - new ATH.
Support & Resistance:
  • The Month Channel Top (blue) gets realigned again as Bulls get on a new trajectory #M1. 
  • 5 EMA on the EOW was the support #W1 this week also.
Moving Averages:  
  • Bulls keep above the 13 SMA on the EOD #D1 all of last week.
  • 5 EMA stays above the 13 SMA after a Bullish Deflection #D1. 
Indicators:
  • RSI 13 stays in the overbought #W2.
  • Month Chart Oscillator remains below the over-bought, after the August Close #M2.


Wrap:
Bullish 'Three Inside Up' on the Long Term #M1 gives Bulls more gains - Bears unable to get below the 5 EMA on the EOW #W1..



Looking forward into the next Week:


Patterns:
  • Long Term Chart's Bullish 'Three Inside up' (Study link herehere or elsewhere) #M1 - still active.
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 Channel Tops #D1 are resistances.
Moving Averages:
  • Keeping above the 5 EMA on the EOD #D1 for all of last week - shows  momentum for Bulls.
  • Deflection or Cross of the 5 EMA and 13 SMA, next week would show the direction going forward #D1. 
Indicators:
  • Stochastic 34 3 4 staying in the over bought zone, works for the Bulls #D1


Wrap:
Bulls use the 'Three Inside Up' #M1, to stay green in November - Bears aim for a bearish cross of the 5 EMA and 13 SMA  #D1.