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Monday, November 21, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Mid Channel All Time High - Week 4 of November 2016.









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


Patterns:
Bears close the week below 2184, but Day Fork top fails to hold the Bull run #Daychart.

Support & Resistance:
Support was at the daily 5 EMA #DayChart. Resistance near the Week Fork Mid #Weeklychart.

Moving Averages:
The critical EMA5, is bearishly below the MA13, only on the Week Chart #Weekchart.

Indicators:
The RSI reaches the 50% #WeekChart.


Wrap:

Bulls defend the 200 MA #DayChart and go green up to the Weekly Fork Middle #WeeklyChart. Bears defend 2184 on week close.






Looking forward into this Week:



Patterns:
The index is looking at a new ATH (All Time High old is 2194) #MonthChart.

Support & Resistance:
Middle Tyne of the Week Fork, is the resistance that Bears would want to stay below #Weekchart. Daily 200MA is support for Bulls #DayChart.

Moving Averages:
5 EMA on the Week chart i,e, 2152, is the mark, that the  Bear want to get below this week #WeekChart.

Indicators:
STS is in the over sold #DayChart.


Wrap:
Bulls after taking off from the 200 MA, look to take out the ATH #MonthChart.
Bears need to stay below 2194 and prevent a Clear Higher High #WeekChart.