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Monday, February 13, 2017

S&P 500 (Americas US) - Three D 'Technical Analysis' - 2323 to 2356 - Week 3 of February 2017.










Image link click



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


Patterns:
Index faces resistance at the Monthly Fork's top Tyne again #Monthlychart. A harmonic 'Bearish Crab' formation is possible on the Day Chart (google 'Harmonic Bearish Crab' to study) #Dailychart.

Support & Resistance:
The Index gets support at the 0.618 Price level of the Gann box (google 'Gann box' to study) #Dailychart. Resistance was just below the AB=CD pattern's 1.618 extension (google 'AB=CD' pattern to study) #Dailychart.

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

Indicators:
The TSI is into the 76.8% Fibo Retrace #MonthlyChart. 


Wrap:  


The AB=CD and the  'Bearish Crab' Harmonic patterns seem to confluence #Dailychart.




Looking forward into this Week:


Patterns:
Month fork with a Span of 25 years - sees the Price touch its top tyne. Harmonic AB=CD and Bearish Crab formations, #Dailychart seem to confluence around 2323. Edit : The AB=CD target @2.16 Fibonacci is 2356 (see third image above).

Support & Resistance:
The Index gets support at the 0.75 Price level of the Gann box while resistance is at the 1 level.

Moving Averages:
5 EMA on the Month chart (2216), is the mark, that the Bears have to close below, to impact the up move #MonthlyChart.

Indicators:
TSI above 76.8% Fibo Retrace, helps Bulls #MonthlyChart. 


Wrap:
Bulls are again at the Long term Channel top, now looking at a breakout #MonthChart.
Bears hope to use the current patterns to get below 2300 #Dailychart.