Monday, June 26, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Hi Wave @ 2458 - Week 4 of June 2017.

Zoom into chart .. 

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

Index turns  back from resistance at 2458 - and makes a High Wave candle last week.
2458 is a confluence of two Retraces, 162% and 200% as seen above.
Indecisive Bulls made a High Wave candle last week.


Bulls after returning from 2458, seem undecided.

Looking forward into this Week:

Bears seek to defend 2458, 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).
Once successful, Bears seek to keep it below 2458