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Sunday, February 24, 2013

S&P 500 - Triple Screen 'Technical Analysis' - Week: 18 February to 22 February, 2013 - Bears defend Channel Top Again..




S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 15 Feb'13




S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from OND, 2011 onward - as on 15 Feb'13




S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Nov'2012, onward - as on 15 Feb'13





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

Month Channel top resistance, seen at #D1, #W1 & #M1 once again sends back the Bulls, a red week seen.
#D2 and #W2 show Divergence.
#M1, #W1, #D1 - show us that the Month Channel's red top line, clearly stop the price line.
5 EMA and 13 SMA on the EOD charts #D1, which was seen converging last week, cross bearishly.
RSI #W2, and its MA cross bearishly while still in the oversold.
Bears wrest the short term screen from the Bulls #D1 & #D2.
#D1 shows the price line taking support on the MVWAP 34 - exactly as anticipated last week.


Watch of the Month/Day Channel's top red line #M1, #D1 and the Divergences #D2 & #W2, paid off .. support on the 34 MVWAP #D1 also worth a watch.




The Ellipses marked #M1, #W1 and #D1 indicate the hot spots on the long, medium and short term charts respectively.
As one can see - we are zooming into the action starting #M1 through #W1 and get up close in #D1.




Looking forward into the next Week:

Month channel's, top red line #M1, continues to be resistance for Bulls.
The MVWAP 34 on the EOD, #D1, remains the support.
Bullish cross of the 13 SMA with 5 EMA on the Day charts #D1 critical for the Bull.
Sliding the price, below the 5 EMA on the EOW #3, is the next task for the Bear.



Month Channel Top continues as the critical resistance - #M1..





CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 18 February to 22 February, 2013 - 2 Crows' @ Feb end..



Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 15 Feb'13




Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 15 Feb'13




Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Nov' 2012, onward - as on 15 Feb'13





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

Channel Top Stop on the EOW #3, remains the nemesis of Bulls for yet another week.
2 crows pattern which we studied, gives the Bears #3 - more gains.
Day channel #5 (new) sees the Price taking support at the the channel bottom.
50 SMA and 200 SMA converge - on the EOD charts #5.
MACD Histogram shows positive divergence to price #6.
Bears get a bearish cross of the 13 SMA and 5 EMA on the Medium term screen #3.
Position of the STS in the oversold shows that the Bulls are around for a comeback #4.
Bulls take support on the 5 EMA on the EOM #1.


Our mark for the week 5969 was the top made by the Index last week, the bearish cross of the 5 EMA & 13 SMA on the EOW #3 results - Vigilant Bears get their honey..




Looking Forward into the next Week:

Channel top on the EOW, remains a major resistance #3.
Bouncing from the green bottom line of the new EOD channel #5 - Bulls could attempt a retake of the short term screen.
Index giving a bullish cross of the 5 EMA and the 13 SMA on the EOW #3, is critical for Bulls.
2 crows pattern that we studied last few weeks, to be followed up for its targets.
50 SMA and 200 SMA convergence towards a death cross to be watched #5.
Getting above the 76.4% Fibonacci retrace of the last low (Jan'12) from Nifty's all time high #1 - by month end (5919) - is important for Bulls to get a shot at new Highs.



Using the Bottom Channel line of the Day Channel #5, and the 5 EMA on the EOM #1, Bulls can look for a throwback towards the 50 SMA on the EOD #5.