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Monday, April 18, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Star Power - Week 3 of April 2016.




 

 




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


Patterns: 

  • Bulls keep the force up, with a deflection off the Fork bottom #D1.
  • Index feels the power of the Morning Star #M1, with a green week #W1.
Support & Resistance:
  • Index rises above the daily 5 EMA early in the week. Support at the Fork's bottom #D1, helps the Bull up-move #D1.
Moving Averages:  
  • The critical 5 EMA, moves bullishly above 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 elsewhere), is active on the Month Chart #M1.
Support & Resistance: 
  • Last High (2116) is the resistance to beat. The Daily 222 SMA #D1, is the support, that Bulls want to stay above.
Moving Averages:
  • Death Cross (55 & 222 SMA), is active on the Day Screen.
Indicators:
  • TSI is above the 50 mark #M2.


Wrap:
Star struck Bulls, see a higher high and a move to the ATH #W1.
Bears look to slip below the Fork, this week, and then below the 222 SMA #D1.