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Tuesday, March 21, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - High Wave (in)Decisions - Week 4 of March 2017.








Zoom into chart .. Click 



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

Index again fluctuates about the 2.62 Fibonacci resistance - making a High Wave candle.
Bears force a range last week.


Wrap: 

The Index again 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. 


Wrap:
Bulls seeking another major Break out - run into a spot of resistance.
Bears need to take advantage of this lull, failing which Index looks to continue trend