Tuesday, May 30, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Higher High - Week 5 of May 2017.

Zoom into chart .. Click 

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

Index takes off from Support at the Tenkan Sen (Blue) to resistance at the 113% of the Last Minor High Low (as above).
New  All Time High made.


Bulls after making a Higher Low, make a Higher High.

Looking forward into this Week:

Bears seek to hold the 113% to get back in the game.
Bulls after taking off from the Tenkan Sen, have  momentum to spare.
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 need to make the next Low, a lower low
, defending 113% Fibo is first