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Monday, March 14, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Pin Bar Rewards - Week 3 of March 2016.









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


Patterns:.

  • Bulls get rewards from the February Pin Bar #M1. Index moves up smartly to the Daily 222 SMA #D1. 
Support & Resistance:
  • Index was resisted around the 222 SMA  on the Daily Screen #D1. Support came in at the 13 SMA on the Day Screen #D1.
Moving Averages:  
    • The critical 5 EMA, is crossed bullishly above the 13 SMA, on the Day and Week Screens #D1.
    Indicators:
    • STS is in the over sold zone #D1.


    Wrap:
    Bulls use the Pin Bar on the Month Screen to good effect, Bears defend 222 SMA #D1.




    Looking forward into this Week:

    Patterns:
    • 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 222 SMA on the Day Charts is the resistance, that Bulls need to clear next #D1,
    Moving Averages:
    • Death Cross (55 & 222 SMA), is on the Day Screen.
    Indicators:
    • RSI 13 staying above the 50% mark, is important for the Bull up move #W2.


    Wrap:

    Bulls on a roll, 
    after Pin Bar, now consider the 222 SMA, in their path to making a higher high 
    #D1.
    Bears aim to keep the index below the 222 SMA #D1, then break below the day Channel #D1 and keep the down trend intact.