Monday, May 22, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Higher Low - Week 4 of May 2017.

Zoom into chart .. Click 

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

Index drops to Support at the Tenkan Sen (Blue) as marked above - and bounces back.
The All Time High is resistance again.


Bulls defend the First Supports - making a Higher Low. Bears hold the ATH.

Looking forward into this Week:

Bears need to hold the current ATH (All Time High) to get back in the game.
Bulls after defending the Support have  momentum to spare.
Index Support and Resistance possibilities are marked as above. 

Bulls look to crack the ATH, staying above current support at the Tenkan Sen (blue line).
Bears hope to restart the downward momentum after two
 red weeks, defending the current top