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Monday, January 26, 2015

S&P 500 - Triple Screen 'Technical Analysis' - Long Term 3 Inside Down (just on) - Week 5 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.
  • Possibility of a Stick Sandwich Pattern on the EOW Charts #W1.
Support & Resistance:
  • Bears close the index below our marks of 2062 or 2059 last week -  Bulls close the index above all the MAs that we track on the screens above.
Moving Averages:  
    • 5 EMA and 13 SMA, on the medium term screen, edges into a mild Bearish Cross, as Index fails to make 2062 #W1.
    Indicators:
    • RSI 13 in the 60s #W2.

    Wrap:
    Bears maintain hopes of a Long Term Three Inside Down by closing marginally below 2059 #D1.
    Bulls make it above all the MAs that we track.




    Looking forward into this Week:

    Patterns:
    • Bearish Harami is now active on the Long Term Screen and could trigger a 'Three Inside Down' #M1 (Study Links herehere or elsewhere).
    • Stick Sandwich Pattern (Study Links herehere or elsewhere) could activate if, the current week, closes around the close, of the week before last week #W1.
    Support & Resistance: 
    • 13 SMA on the EOW (2051) #W1 and the Monthly 5 EMA (2023), are supports the Bulls look to keep above, this week.
    • 2065 and 2059 are resistance for the index, which Bears would want to stay below
    Moving Averages:
    • The 5 EMA and 13 SMA on the Medium Term Charts stay crossed bearishly as long as the index is below 2065 #W1.
    Indicators:
    • TSI, staying above the 76.4% Fibonacci retrace , keeps the Bull Hope up #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 the last low on the EOD, and crack the 200 SMA #D1.