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Monday, November 28, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Channel Top 2292 ? - Week 5 of November 2016.









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


Patterns:
Index makes a new ATH and a clear Higher High #Weeklychart.

Support & Resistance:
Support was at the daily 5 EMA #DayChart. Resistance was below the middle Tyne of the new Day Fork #Daychart.

Moving Averages:
The critical EMA5, is bullishly above the MA13, on all three charts above.

Indicators:
The RSI is near the 60% #WeekChart.


Wrap:

Bulls take out the middle Tyne of the Weekly Fork #WeeklyChart and make  a new ATH along with a neat Higher high.






Looking forward into this Week:



Patterns:
The index is looking at a new ATH - Bulls seek 2292, the top Tyne of the Month fork #MonthlyChart. 

Bears seek to make a Lower low #Weeklychart.

Support & Resistance:
Middle Tyne of the Week Fork, is the Support - Bears would want to get below #Weekchart.
 
Middle Tyne of the Day Fork, is the resistance that Bulls would want to get above #DayChart.

Moving Averages:
5 EMA on the Week chart i,e, 2182, is the mark, that the  Bear want to get below this week #WeekChart.

Indicators:
STS is in the over sold #DayChart.


Wrap:
Bears need to get below 2182 to get a semblance of traction. 

Bulls seek seek the Long term Channel top and a new ATH (2292) #MonthChart.