Monday, June 12, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - High Wave - Week 2 of June 2017.

Zoom into chart .. 

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

Index after its take off from Support at the Tenkan Sen (Blue) nears resistance at 2458, and makes a red High Wave / Harami last week.
2458 is a confluence of two Retraces, 162% and 200% as above.


Bulls after making a Higher High, makes an inside week and a High Wave Candle.

Looking forward into this Week:

Bears seek to make it a 'Three Inside Down' (google it) to get back into the game.
Bulls after taking off from the Tenkan Sen, need to clear 2458 to keep the current trend.
Index Support and Resistance possibilities are marked as above. 

Bulls look to make new ATHs, staying above current support at the Tenkan Sen (blue line).
Bears seek to keep it below 2458 and make a Bearish Three Inside Down (weekly)