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S&P500 Technical Analysis

Chart Template

This is the latest chart template (Dec. 2011) I use it to follow the US market S&P500 index and the EUR.USD forex pair, but this one without the put/call ratio indicator.

I will use a monthly, weekly and daily chart, for a long, medium and a short term view of the market. The basic price chart (01) will be a bar chart or a candle chart. Prices are color coded by my SATS5 expert system. Green for a long position, red for closing a long position and black for a short position (SATS5 is not available). In the same main window I use three simple moving averages (02)=50, (03)=100 and (04)=200, mainly used looking for dynamic support and resistance levels. Green and red (05) there is a fast BBS or band Break System. A closing price above the green or a closing price below the red is a buy and sell signal respectively. BBS will be available on the BBS video DVD to be published beginning 2012. The brown curve (6) is a trailing indicator to eliminate as much as possible price noise. You could use an upturn or downturn as a buy and sell signal. It is most useful as a trailing stop method (this indicator is not published). Finally (7) in the main chart are Elliott waves, identified manually. I will use the following indication from the biggest to the smallest waves:[EW], {EW}, (EW), EW, EW, ew, i-v. I consider the final correct count not that important as long as my own count points in the right direction. Of course we will be using support and resistance lines and trend lines.

In the first sub-window there is a fast stochastic RSI indicator (08) to follow up short term moves (this indicator will be available on the BBS video DVD to be published beginning 2012). In the same window there is a standard slow stochastic to follow up the medium term moves. In the second sub-window there is the SVE_BBS%b indicator (10). This is mostly a leading indicator most of the time showing divergences at the turning points (indicator not published). (11) in the same window is the BBS indicator, digitally showing buy, sell and buy short signals. a level of 100 represents a long position, 50 means no open position and 0 means an open short position  (this indicator will be available on the BBS video DVD to be published beginning 2012).

The third sub-window has a standard 28 periods RSI (12) with an 8 day simple moving average (13). Price moving above the average and the average moving up are good indications for an up trend, while price moving below the average and the average moving down are a good indication for a downtrend. Finally in the fourth sub-window I have the fast (14) and slow (15) put/call ratio indicator PCRI. Everything about these indicators has been published in the October-November-December issues of Stocks & Commodities magazine.

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Eventual price projections will be made with the help of Fibonacci projections and the Andrews pitchfork.

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