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Monday, January 16, 2017

US - S&P 500 - Triple Screen 'Technical Analysis' - Three inside down? - Week 3 of January 2017.









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


Patterns:
Bears fail to make a Stick Sandwich Pattern. Produce a Bearish Harami instead  #Weeklychart.

Support & Resistance:
The Index takes off from support near the Middle Tyne of the Day & Week Fork and at the 5 EMA #Weeklychart. Index make a new ATH and is almost at the Monthly Channel Top #Monthlychart.

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

Indicators:
The RSI knocks on the oversold again #WeeklyChart. 


Wrap:  
Bulls manage a Doji, Bears make it a Bearish Harami #Weeklychart.




Looking forward into this Week:


Patterns: 
Last two candles on the #WeeklyChart, could be the making of a 'Three inside down' pattern (Google 'Three inside down pattern' to study).

Support & Resistance:
Middle Tyne of the Week Fork, is now 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 get below, this week #WeeklyChart.

Indicators:  
STS stays in the over sold #DayChart.


Wrap:
Bears want to press the point with a 'Three inside down' #Weeklychart. 
Bulls look to use the current Support and Trend to touch the Long term Channel top and a make a new ATH (2292) #MonthChart.