Learning from last Week: (click here for the previous `post)
- Bears finally get a red candle and a Bearish Harami, last week #W1.
- Index slipped below and was resisted by the middle tine of the fork #D1, for most of the week. Support came in at the 13 SMA on the same screen #D1.
- The critical 5 EMA, remains crossed bullishly above the 13 SMA, on the Day and Week Screens #D1.
- STS remains in the over sold zone #D1.
Bears manage a Bearish Harami #W1. Bulls hold it above the daily 13 SMA.
Looking forward into this Week:
- Last week's close (2036) and the middle prong for the fork #D1 are the immediate resistances. The lower prong of the Fork #D1, and the weekly 5 EMA (2000) are the immediate supports.
- A Death Cross (55 & 222 SMA), is active on the Day Screen.
- RSI 13 going above the 50% mark, is important for the Bull up move #W2.
Bulls dominant, after the long term Pin Bar, still look at making a higher high #W1.
Bears want a lower high, and resumption of the down move, with help from the Bearish Harami #W1.