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Monday, March 17, 2014

S&P 500 - Triple Screen 'Technical Analysis' - Channel Top Holds - Week 3 of March 2014.



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


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


S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Oct'2013, onward - as on 14 Mar'14




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


Patterns:

  • Bears hold the index at Week channel top after the weekly 'Opening White Marubozu' near the ATH got a continuum the week before #W1. 
Support & Resistance:
  • Bulls resisted near the Week Channel Top, take support near the weekly 13 SMA #W1 and above the MVWAP34 on the EOD #D1.
Moving Averages:  
  • On the Day Chart, the 5 EMA and 13 SMA cross bearishly #D1. 
Indicators:
  • RSI 13, continues to meander in the 60s #W2 while the Oscillator on the long term chart is back below the over-bought zone #M1


Wrap:
Bears defend the Week Channel top again - Bulls find support near the Weekly 13 SMA #W1 




Looking forward into this Week:


Patterns:
  • March Candle currently headed to form a Bearish Harami (Study links suggested  herehere or elsewherewith the February Candle #M1.
Support & Resistance:
  • MVWAP 34 on the Day Chart #D1, continues as support for the Bulls, while the Week Channel Top #W1 remains resistance.
Moving Averages:
  • Bears need to get and keep the index below the 13 SMA (1831) #W1 to get back into the game - Bulls need the 5 EMA above the 13 SMA on the EOD #D1. 
Indicators:
  • Stochastic 34 3 4, staying in the over-bought zone, works for the Bulls #D2. Bears like the Oscillator on the long term chart, below the over-bought zone #M1


Wrap:
Bears hope to get below 1831 - Bulls want the 5 EMA above the 13 SMA on the EOD #D1.





The Dow Jones - Ichimoku Study - Old High Hold - Week 3 of March 2014.



Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 14 Mar'14




Introduction / Primer to Ichimoku can be read at this link (click). 



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

Bears force dive towards the Tenkan Sen as Old Highs prove slippery to Hold  #W2.

Senoku Span A & B gap flat and steady #W3.
Gap between the Tenkan Sen and Kijun Sen also flat and steady #W2.


Wrap: Index slips near Old Highs #W2.




Looking Forward into this Week:


Senoku Span A & B - gap holding steady or increasing is good for Bulls now #W3.
Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, would show direction going forward $W2.
Bulls wary of the Chikou span approaching the Price line #W1.


Wrap: Bulls want the Tenkan Sen and Kijun Sen staying apart #W2, Bears wish for a Senoku Span Cross #W3.