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Monday, September 7, 2015

S&P 500 - Triple Screen 'Technical Analysis' - Death Cross - Week 2 of September 2015.














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


Patterns:
  • The pin bar candle for previous week goes the Bear way. Bears make an 'Opening Black Marubozu' candle last week #W1.
Support & Resistance:
  • Support was well above the MVWAP 34 as marked on the Month Screen #M1. Resistance for the Index was at the 13 SMA on the Day Chart #D1.
Moving Averages:  
    • The 5 EMA and 13 SMA, on the month screen, crossed over Bearishly at August close #M1.
    • On the Day Charts the 50 SMA and the 200 SMA cross Bearishly #D1.
    Indicators:
    • RSI 13, after meandering in the middle of the range for a year #W2, is currently oversold.  

    Wrap:
    Bears helped by the Daily 13 SMA #D1, again attempt to get to the MVWAP34 on the EOM #M1.
    Bulls attempt a higher low #D1.




    Looking forward into this Week:

    Patterns:
    • 'Opening Black Marubozu' on the Medium Term Charts is active (Study Links herehere or elsewhere) #W1.
    Support & Resistance: 
    • MVWAP 34 on the long term screen (once again) is the support that Bulls want to stay above #M1 . Index has resistance at the Daily MVWAP 34  #D1. 
    Moving Averages:
    • Death Cross on the EOD, is active as long as the 50 SMA and the 200 SMA stay crossed Bearishly (Study Links herehere or elsewhere) #D1,
    Indicators:
    • TSI slips below the 50% retrace #M2.


    Wrap:
    Bulls seek to make a higher low and aim for the daily 200 SMA #D1.
    Bears look to force their way below the monthly MVWAP34 #M1.