S&P 500 - Triple Screen 'Technical Analysis' - 3 Inside Up - Week 1 of January 2015.

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

Patterns:

• Bullish Harami on the Medium Term becomes a 'Three Inside up' #W1.
• Monthly Candle earlier resembled a Dragon Fly Doji, with last week's up move, its more of a 'Hanging Man' (as of now), bear hope stays alive #M1.

Support & Resistance:

• Bulls stay above the 5 EMA on the Daily Charts all of last week and make a new ATH, bears hold back the index at the Broadening Top Pattern's upper line #D1.

Moving Averages:  

• Daily 5 EMA and 13 SMA, stay crossed Bullishly #D1.

Indicators:

• STS 34 3 4, bounces at the oversold line and moves into the over bought #D2.

Wrap:

Bears hold back the index at the Broadening Top Pattern's upper line #D1.
Bulls trigger a 3 inside up and make a new ATH #W1.

Looking forward into this Week:

Patterns:

• Broadening Top (Study Links here, here or elsewhere) seen on the Day Chart - follow up re-formed top - bottom is near the 76.4% retrace mark.
• 'Three Inside Up' is active  (Study Links here, here or elsewhere) #W1.
• Hanging Man worth a study (Study Links here, here or elsewhere)  #M1.

Support & Resistance: 

• Megaphone Top #D1 and EOW Channel Top, are levels the Bulls look to take out.
• The 5 EMA on the weekly charts (2061) and previous week's close i.e. 2071 are the supports, that the Bears would want to get below #W1.

Moving Averages:

• The 5 EMA and 13 SMA on the Medium Term Charts cross bearishly below 1906 #W1.

Indicators:

• TSI, above the 76.4% Fibonacci retrace #M2.

Wrap:

Bulls make a 'Three Inside up', and now focus on the EOW channel top #W1.
Bears look to fight back from the Broadening Top Pattern's upper line #D1.