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Monday, November 16, 2015

US - S&P 500 - Triple Screen 'Technical Analysis' - Break Zone. -Week 3 of November 2015.











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


Patterns:
  • Index falters near the ATH #M1, Bears take it down all the way to the MVWAP35 on the EOD #D1.
  • At this Break zone - a Closing Black (here  its red) Marubozu forms #W1.
Support & Resistance:
  • Index took support at the MVWAP35 on the Day Chart #D1 - it returned near its resistance at the (All Time High) ATH #M1.
Moving Averages:  
    • The 5 EMA and 13 SMA, on Weekly Screen is crossed Bullishly - and will stay that way until index closes below 1888 for the week #W1.
    Indicators:
    • RSI 13, is around the 50% mark  #W2.  


    Wrap:
    Bears hold the ATH and send Index below the Daily 200 SMA #D1.
    Bulls halt the fall near the MVWAP35 #D1. Option of Big 'W' remains open #D1.




    Looking forward into this Week:

    Patterns:
    • Closing Black Marubozu candle is active on the Medium Term Screen (Study Links herehere or elsewhere) #W1.
    • The 'W' pattern on the Day Chart is still active (Study Links herehere or elsewhere) #D1.
    Support & Resistance: 
    • 200 SMA on the day chart, is the resistance for the index, that Bears want to stay below. Index Support at the 50 SMA #D1, is what the Bears need to break.
    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 slips below the oversold #W2.


    Wrap:

    Bulls still seek the rewards of the big 'W' pattern #D1, with a breakout from the ATH #M1.
    Bears look to dive below 1888 and take the index to the Day Channel bottom #D1.