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Thursday, December 15, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Target Channel Top - Week 2 of December 2016.








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


Patterns:
The Index takes off from the Middle Tyne of the Weekly Fork for yet another All Time High #Weeklychart.

Support & Resistance:
Support was around the weekly 5 EMA and Resistance was at the middle Tyne of the Day fork #Dailychart.

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

Indicators:
The RSI shoots from 50% to the oversold #WeekChart.


Wrap:

Bulls make yet another ATH  and Higher high.




Looking forward into this Week:



Patterns: 

Bulls seek the top Tyne of the Month fork and a Higher ATH #MonthlyChart. 

Support & Resistance:
Middle Tyne of the Week Fork, is now support and the Top Tyne of the Month Fork is resistance.
 


Moving Averages:
5 EMA on the Day chart, is the mark, that the  Bear want to get below, sometime this week #DailyChart.

Indicators:
STS is in the over sold #DayChart.


Wrap:

Bears want to use the mid fork resistance on the Daily Chart and get some traction #Dailychart. 
Bulls seek seek the Long term Channel top and a new ATH (2292) #MonthChart.