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Monday, October 3, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Evening Star - Week 1 of October 2016.










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

Patterns:

'Evening Star' pattern triggers on the long term screen #MonthChart1. Septermber candle was a Long Doji.

Support & Resistance:
 
Resistance was at the middle Tyne of the Week Fork #WeekChart1. Support near the 13 MA on the day charts #Daychart1.

Moving Averages:
The critical EMA 5, is again bearishly below the MA 13, only on the Week Chart 
#WeekChart1.

Indicators: 
The RSI is near the oversold #Week
Chart2.

Wrap:

Evening Star triggers on the Month Chart #MonthChart. September candle is a Doji.. 




Looking forward into this Week:

Patterns: 

'Evening Star' Pattern (Study Links herehere or elsewhere) is active on the Long term charts, as the September close was just below 2171 #MonthChart1. 

Support & Resistance:
5 EMA on the Week chart i,e, 2161, is the support Bulls want to defend #WeekChart1. 
Middle Tyne of the Fork on the Week chart is resistance, that Bulls aim for #WeekChart1.

Moving Averages:
The E
MA 5 and MA 13, on the Medium Term Chart cross Bullishly above 2188, a mark the Bears want to defend #WeekChart1.

Indicators:
TSI returns from resistance at the 74% Fibonacci mark #MonthC
hart2.


Wrap:
 
Bulls after allowing an Evening Star #MonthChart1, seek a comeback with a move above 2188.
Bears want to keep below the middle Tyne of the Week Fork #WeekChart1 and aim for life below 2161.