TO READ THIS WEEK's POST CLICK HERE...

Monday, April 11, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Stars - Week 2 of April 2016.












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


Patterns: 

  • Bears force a red week, with a lower low in mind #W1.
  • First three candles of this year, form a Morning Star, the last candle on the screen (April) is a Doji currently #M1.
Support & Resistance:
  • Index stays below 2075 the recent high #D1, which was  resistance. Support was the 55 SMA on the weekly screen #W1.
Moving Averages:  
    • The critical 5 EMA, is poised to cross bullishly or deflect bearishly with the 13 SMA, on the Day Screen #D1.
    Indicators:
    • STS remains in the over sold zone #D1.


    Wrap:
    Bears keep index below the previous High #W1. Bulls continue to hold it above the daily 222 SMA.




    Looking forward into this Week:

    Patterns:
    • Morning Star (Study Links herehere or elsewhereactive on the Month Chart #M1.
    Support & Resistance: 
    • Last High (2116) is the immediate resistance. The Daily 222 SMA, is the immediate support #D1.
    Moving Averages:
    • Death Cross (55 & 222 SMA), is active on the Day Screen.
    • The critical 5 EMA, is poised to cross bearishly or deflect bullishly with the 13 SMA, on the Day Screen on first trading day of this week - level to watch for the day is 2054 #D1.
    Indicators:
    • RSI 13 almost at the oversold line #W2.


    Wrap:
    Star struck Bulls, eye a higher high and a rush to the ATH #W1.
    Bears look to slip below the Fork #D1, and go about making a lower low below the 222 SMA.