Monday, March 13, 2017

S&P 500 (Americas US) - 'Weekly Technical Analysis' - Some Red - Week 3 of March 2017.

Zoom into chart .. Click 

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

Index runs into resistance at the 2.62 Fibonacci resistance shown above.
Desperate Bears score their first red candle in weeks.
Last week's candle makes a Bearish Harami (google 'Bearish Harami') with the previous Green Candle.


The Index faces resistance at the 2.62 extension of the last minor High-Low.

Looking forward into this Week:

Bears hope to Hold the index below the current resistance.

Bulls seek Higher Highs and Support at current levels.
Index Support and Resistance possibilities are marked as above. 

Bulls seeking another major Break out - run into a spot of resistance.
Desperate Bears look for a 'Three inside Down' as a follow up to the Harami.