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Monday, August 15, 2016

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






 





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


Patterns:
'Hanging Man' candle of the previous week fails to work for the Bears - Doji shows an 'even steven' last week #WeekChart1.

Support & Resistance:
Day Fork's middle Tyne was again Support #DayChart1. The Index made another new All Time High (ATH) #MonthChart1.

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

Indicators:
The STS is in the oversold #
DayChart2.

Wrap:

Bulls keep above the fork center and make a new ATH, while the Bears manage a 'Doji' candle last week #WeekChart1.



Looking forward into this Week:

Patterns: 

'Three White Soilders' Pattern (Study Links here, here or elsewhere) is active on the Medium Term Chart #WeekChart1.
'Doji' candle's effect  (Study Links here, here or elsewhere) is active on the Medium Term Chart #WeekChart1.

Support & Resistance:
Upper Tyne of the Fork on the Day chart is the resistance to beat #
DayChart1. Middle Tyne of the Fork on the Weekly chart is the first support #WeekChart1.
 
Moving Averages:
The 5 EMA on the Week screen falls at 2169 a level the bulls need to defend
#WeekChart1.
 
Indicators:
TSI nears resistance at the 74% Fibonacci mark #MonthC
hart2.

Wrap:
Bulls, look at making another new and higher ATH
#WeekChart1. Bears hope the 'Doji' candle gets them some red #WeekChart1.