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Monday, June 13, 2016

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















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


Patterns:
Evening Doji Star formation apparent on the Weekly Chart #W1. Bulls make a Higher High #M1.

Support & Resistance:
Middle Tyne of the fork on the day screen #D1, was support and later resistance last week.


Moving Averages:
The critical 5 EMA, is bearishly below the 13 SMA, on the day screen #D1.

Indicators:
STS is in the Over bought zone #D2.


Wrap:
Bulls make a Higher High #M1. Bears manage Evening Doji Star #W1.




Looking forward into this Week:


Patterns:
Possible 'Evening Doji Star' (Study Links here, here or elsewhere), on the Week Chart #W1.

Support & Resistance:
Weekly Channel Top (orange) is the resistance to beat #W1. The lower tyne of the fork is the support #D1.

Moving Averages:
The 55 & 222 SMA, is a in a 'Golden Cross' on the Day Screen #D1.

Indicators:
TSI just above the resistance at the 61.8% mark #M2.


Wrap:
Bulls, after making a higher high (above 2116) #M1, look to reach the ATH.
Bears seek to get the Index below the fork #D1, and seek a lower low to make up.