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 here, here 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:

• A 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.