Monday, March 7, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Pin Bar - Week 2 of March 2016.

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


  • February 2016 candle, resembles a Pin Bar #M1.
Support & Resistance:
  • Index was resisted around the MVWAP 34 on the Weekly Screen as studied #W1. Support again was near the 5 EMA on the Day Screen #D1.
Moving Averages:  
    • The 5 EMA on the Day Screen is crossed bullishly above the 13 SMA on the Day and Week Screens #D1.
    • STS is in the over sold zone #D1.

    Bulls manage a Pin Bar for last month, Bears defend the weekly MVWAP 34 #W1.

    Looking forward into this Week:

    • Pin Bar Candle's effect (Study Links herehere or elsewhere) is active on the Month Screen #M1.
    Support & Resistance: 
    • MVWAP34 #D1, is the immediate support. The 200 SMA on the Day Charts is  next resistance #D1,
    Moving Averages:
    • Death Cross (50 & 200 SMA), is on the Day Screen.
    • The 5 EMA and 13 SMA, stay crossed bullishly on the week screens as long as the index remains above 1949 #W1.
    • RSI 13 clearing the 50% mark is important for the Bull up move #W2.


    Bulls on a roll, 
    after Pin Bar aim for the Day Channel Top 
    Bears aim to keep the index below the MVWAP 34 #W1, and then look to close below 1949 this week.