TO READ THIS WEEK's POST CLICK HERE...

Monday, March 6, 2017

S&P 500 (Americas US) - 'Weekly Technical Analysis' - Long Term Channel Breakout? - Week 2 of March 2017.











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


Patterns:
Index again closes week above the Monthly Fork's top Tyne #Monthlychart.

Support & Resistance:
The Index support and resistance options are shown in the first chart above.

Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all Screens. 

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


Wrap: 

The Index trades above the 1.62 extension of the last High-Low.




Looking forward into this Week:


Patterns:
Month fork with a Span of 25 years - sees the Price peep above its top Tyne (second chart above).

Support & Resistance:
The Index support and resistance possibilities are shown in the first chart above. 2333 is the support the Bears seek to get below.

Moving Averages:
5 EMA on the Month chart (2265), is the mark, that the Bears have to close below, this month, to impact the up move #MonthlyChart.

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


Wrap:
Bulls peeping above the Long term Channel top, could be negotiating a major breakout #MonthChart.
Desperate Bears may be seeing their darkest hour (before the dawn) and resolution on the first chart should show the way.