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Monday, July 18, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - New ATH !! - Week 3 of July 2016.







 




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


Patterns:
Index moves up to a new All Time High (ATH) with help from the Medium Term 'Three Outside Up' #WeeklyChart 1. Resistance at the confluence of the Forks (Weekly and Daily charts) halts the up move #Dailychart 1.

Support & Resistance:
Daily EMA 5 was the support, while the Middle Tyne of the
Fork on the Daily Chart, was resistance as expected #Dailychart 1.

Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all the above screens.

Indicators:
The STS is in the oversold #
Dailychart 2.

Wrap:
Bulls use the 'Three Outside up' to get to a new ATH
#WeeklyChart 1
Bears manage to stop the Bull run at the fork #Dailychart 1.



Looking forward into this Week:


Patterns:
'Three Outside up' Pattern (Study Links here, here or elsewhere), is active on the Medium Term Chart #WeeklyChart 1

Support & Resistance:
Middle tyne of the Fork on the Day chart is the resistance to beat #
Dailychart 1. The Daily MVWAP 34 is the first Support #Dailychart 1.
 
Moving Averages:
The 55 & 222 MA, is a in a 'Golden Cross' on the Day Screen
#Dailychart 1.
 
Indicators:
TSI clears resistance at the 61.8% mark #Monthly
chart 2.

Wrap:
Bulls, look at making a new and higher ATH
#WeeklyChart 1. Bears seek to use the current resistance, to drive the index below the MVWAP 34 #Dailychart 1