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Monday, December 5, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Inside week - Week 1 of December 2016.











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


Patterns:
After the Index makes a new ATH and a clear Higher High, Bears manage an 'Inside Week' #Weeklychart.

Support & Resistance:
Support was at the low of the previous week's candle and Resistance was at the middle Tyne of the weekly fork #Weekchart.

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

Indicators:
The RSI is near the 50% #WeekChart.


Wrap:

Bears come back with an 'Inside Week' after the new ATH  and Higher high.




Looking forward into this Week:



Patterns: 

Bears seek to make a Lower low with help from the 'Inside Week' (or 'Bearish Harami' - Google it) #Weeklychart.
Bulls seek 2292, the top Tyne of the Month fork #MonthlyChart. 

Support & Resistance:
Middle Tyne of the Week Fork, is now resistance and the 5 EMA on the weekly Chart is support #Weekchart.
 

Moving Averages:
5 EMA on the Week chart i,e, 2177, is the mark, that the  Bear want to get below, this week #WeekChart.

Indicators:
STS is in the over sold #DayChart.


Wrap:

Bears want to use the mid fork resistance to get below 2177 and get some traction #Weeklychart. 
Bulls seek seek the Long term Channel top and a new ATH (2292) #MonthChart.