S&P 500 - Triple Screen 'Technical Analysis' - Channel Break - Week 3 of September 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 12 Sept'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 12 Sept'14

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Jan'14, onward - as on 12 Sept'14

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

Patterns:

• Long Term Bullish Engulfing becoming a 3 outside up, still an option by month end - see the last 3 Month candles #M1.
• Evening Star again fails to evolve on the EOW #W1 - Bears still get a red week.

Support & Resistance:

• Bears crack the EOD channel's bottom line,  Pull back (study) of Price to EOD channel bottom line possible #D1.
• 5 EMA and 13 SMA, cross Bearishly on the EOD #D1.

Moving Averages:  

• Bulls close the week exactly on the 5 EMA on the EOW (1986) #W1.

Indicators:

• RSI 13 meanders in the 60s #W2.
• TSI continues holding, above its crucial Fibonacci level #M2.

Wrap:

Bears almost take the Short Term Screen, Bulls arrest fall at 5 EMA, on the Medium Term screen #W1.

Looking forward into this Week:

Patterns:

• Pull back (study) of Price to EOD channel bottom #D1 - to be watched to assess Bull / Bear strength.
• Bullish Engulfing on long term charts can evolve into a 3 outside up (Study Links here, here or elsewhere) - to be watched for until month end #M1.

Support & Resistance: 

• EOD channel Bottom #D1 and the ATH, are resistances.
• The 13 SMA on the EOW (1972) is the Support Bulls would want to defend #D1.

Moving Averages:

• A Bullish cross of the 5 EMA and 13 SMA, on the EOD is what Bears would want to avoid now #D1.

Indicators:

• STS holding in the over bought, works for the Bulls #D2.

Wrap:

Bulls should look to defend the 13 SMA on the EOW and get back to the ATH #D1.
Bears would try to complete the Pull back and continue with the fall #D1.