TO READ THIS WEEK's POST CLICK HERE...

Monday, February 2, 2015

S&P 500 - Triple Screen 'Technical Analysis' - Déjà vu? - Week 1 of February 2015.

















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


Patterns:
  • Bear hope stay up, after the last three Monthly Candles now make a 'Three Inside Down' - #M1.
  • Index closes below the 5 EMA on the Monthly Charts, after about 3 years - see pink arrow #M3 - and cause of the Déjà vu.
Support & Resistance:
  • Bulls close the index just above the MVWAP 34  on the EOW #W1 -  Bears manage a close below the long term 5 EMA #M1 - after around 3 years above it.
Moving Averages:  
    • 5 EMA and 13 SMA, on the medium term screen remains Bearishly Crossed  #W1.
    Indicators:
    • RSI 13 slides below the 50s #W2.

    Wrap:
    Bears trigger a Long Term Three Inside Down #M1.
    Bulls hold on, above the medium term MVWAP 34 #W1.




    Looking forward into this Week:

    Patterns:
    • Bears produce a 'Three Inside Down' #M1 on the Long Term Screen (Study Links herehere or elsewhere).
    • A failed 'Three inside down', which we studied about three years ago (here and here) - was seen when the Index slipped below the 5 EMA last time (pink arrow #M3). Exact set-up seen now - so that is worth a study #M1.
    Support & Resistance: 
    • MVWAP 34 on the EOW #W1 and the Monthly 13 SMA (1962), are supports the Bulls look to keep above, this week.
    • 2013 (5 EMA on the Month Chart #M1) is a key resistance, 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 2098 #W1.
    Indicators:
    • TSI, slipping below the 76.4% Fibonacci retrace, cheers the Bears #M2.


    Wrap:
    Bulls hope History would repeat itself, and another Bull run would emanate from the current set-up #M1.
    Bears seek to use their advantage this time, and keep below the 5 EMA on the Long Term Charts #M1.