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Monday, January 23, 2017

US - S&P 500 - Triple Screen 'Technical Analysis' - Bear Support - Week 4 of January 2017.












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


Patterns:
Bearish Harami on the medium term is followed by another small candle just above support  #Weeklychart.

Support & Resistance:
The Index again gets support near the Middle Tyne of the Day & Week Fork and at the 5 EMA #Weeklychart.

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

Indicators:
The RSI at the oversold #WeeklyChart. 


Wrap:  
Index produces two small candles after a large green candle #Weeklychart.




Looking forward into this Week:


Patterns:
Last three candles on the #WeeklyChart, could be the making of a 'Rising Three Methods' pattern (Google '
Rising Three Methods' to study).

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

Moving Averages:
5 EMA on the Week chart, is the mark, that the  Bear want to close below, this week #WeeklyChart.

Indicators:
STS stays in the over sold #DayChart.


Wrap:
Bulls look to use the current Support and Trend to touch the Long term Channel top and a make a new ATH (2292) #MonthChart.

Bears want to follow two small red weeks with a deep correction below support to stay relevant #Weeklychart.