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Monday, January 19, 2015

S&P 500 - Triple Screen 'Technical Analysis' - Long Term 3 Inside Down (stays on) - Week 4 of January 2015.
















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


Patterns:
  • Bear hope up  after November and December Candles form Bearish Harami. Last three Monthly Candles now make a 'Three Inside Down' - for now - #M1.
Support & Resistance:
  • Bears keep the index below the 5 EMA on the EOM #M1 and MVWAP 34 on the EOD #D1, most of last week -  Bulls hold above the 34 MVWAP on the Medium Term Screen #W1 and 200 SMA on the EOD #D1.
Moving Averages:  
    • 5 EMA and 13 SMA, on the medium term screen good for a Bullish Deflection or Bearish Cross #W1.
    Indicators:
    • RSI 13 in the 60s #W2.

    Wrap:
    Bears maintain hopes of a Long Term Three Inside Down by closing below 2059 #D1.
    Bulls keep above the Short Term 200 SMA #D1.




    Looking forward into this Week:

    Patterns:
    • Broadening Top (Study Links herehere or elsewhere) seen on the Day Chart - follow up re-formed top - its bottom is near the Fibonacci 76.4% mark.
    • Bearish Harami is now active on the Long Term Screen and could trigger a 'Three Inside Down' #M1 (Study Links herehere or elsewhere).
    Support & Resistance: 
    • 13 SMA on the EOW (2048) #W1 and the Monthly 5 EMA (2023), are resistances the Bulls look to get above, this week.
    • MVWAP 34 on the EOW #W1 and 200 SMA on the EOD #D1, are supports for the index, which Bears would want to break below
    Moving Averages:
    • The 5 EMA and 13 SMA on the Medium Term Charts stay crossed bearishly below as long as the index is below 2062 #W1.
    Indicators:
    • TSI, slipping below the 76.4% Fibonacci retrace by month end, gets Bull Hope down #M2.


    Wrap:
    Bulls seek to deny the Bears a Long Term 'Three Inside Down' by reaching & staying above 2059 #M1.
    Bears look to get below last low on the EOD and crack the 200 SMA #D1.