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Monday, November 30, 2015

US - S&P 500 - Triple Screen 'Technical Analysis' - Seeing Stars - Week 1 of December 2015.











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


Patterns:
.
  • After the long green candle of the previous week, Bulls pause with a Doji  #W1.
Support & Resistance:
  • Index took support just above the 5 EMA on the Weekly Chart #W1 - it again failed to pierce the week Channel's bottom (orange) #W1.
Moving Averages:  
    • The 5 EMA and 13 SMA, on Monthly Screen look ready to cross bullishly, once the December candle is up - at current levels #M1.
    Indicators:
    • RSI 13, spikes above the 60% mark  #W2.  


    Wrap:
    Bears keep the index below the Week Channel bottom (orange) #W1.
    Undecided Bulls produce a doji #W1.




    Looking forward into this Week:

    Patterns:
    • The 'W' pattern on the Day Chart is still active (Study Links herehere or elsewhere) #D1.
    • The Doji on the Medium Term screen can trigger an Evening Doji Star (Study Links herehere or elsewhere) #W1. 
    Support & Resistance: 
    • 200 SMA on the day chart, is now the Index support, that Bears want to get below. Index Resistance is the Week Channel's Bottom line (orange) #W1,
    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 back to the oversold #W2.


    Wrap:

    Bulls continue to See rewards in the big 'W' pattern #D1, with a breakout from the ATH #M1.

    Bears want to use the resistance at the Week Channel bottom (orange) #W1 to produce an Evening Doji Star #D1.