Learning from last Week: (click here for the previous `post)
- 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.
- Index stays below 2075 the recent high #D1, which was resistance. Support was the 55 SMA on the weekly screen #W1.
- The critical 5 EMA, is poised to cross bullishly or deflect bearishly with the 13 SMA, on the Day Screen #D1.
- STS remains in the over sold zone #D1.
Bears keep index below the previous High #W1. Bulls continue to hold it above the daily 222 SMA.
Looking forward into this Week:
- Last High (2116) is the immediate resistance. The Daily 222 SMA, is the immediate support #D1.
- A 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.
- RSI 13 almost at the oversold line #W2.
Bears look to slip below the Fork #D1, and go about making a lower low below the 222 SMA.