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

Monday, October 12, 2015

US - S&P 500 - Triple Screen 'Technical Analysis' - 'W' - Week 2 of October 2015.










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


Patterns:
  • Last week's action produced a green 'Hammer' candle #W1.  
  • Index showing a 'W' pattern #D1.
Support & Resistance:
  • Index took support at the 5 EMA on the Day Chart all week #D1 - it was resisted by the 13 SMA on the Weekly Charts #W1.
Moving Averages:  
    • The 5 EMA and 13 SMA, on the day screen are Crossed Bullishly #D1.
    Indicators:
    • RSI 13, after attempting a lift off, from the oversold line heads towards the 50% mark #W2.  


    Wrap:
    Bulls hammer their way to above the 2K mark.
    Bears defend the weekly 13 SMA #W1.




    Looking forward into this Week:

    Patterns:
    Support & Resistance: 
    • MVWAP 34 on the long term screen #M1 (once again) is the support that Bulls want to stay above. Index has resistance at the 200 SMA on the Day chart #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:
    • STS almost a the Oversold #W2.


    Wrap:

    Bulls hammer their way to reaching the target for a 'W' pattern #D1.
    Bears want life around the MVWAP 34 #D1 and then #M1.