S&P 500 - Triple Screen 'Technical Analysis' - Long Term 3 Inside Down (still on) - Week 3 of January 2015.

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


Patterns:

• Bear hope up  after November and December Candles form Bearish Harami. Last three Monthly Candles now make a 'Three Inside Down' - for now - #M1.

Support & Resistance:

• Bears keep the index below the 5 EMA on the EOW #W1 and MVWAP 34 on the EOD #D1, most of last week -  Bulls hold above the 5 EMA on the Long Term Screen #M1 and 13 SMA on the EOW #W1.

Moving Averages:  

• Daily 5 EMA and 13 SMA, stay crossed bearishly as of last weekend #D1.

Indicators:

• RSI 13 now in the 60s #W2.

Wrap:

Bears maintain hopes of a Long Term Three Inside Down by closing below 2059 #D1.
Bulls keep above the Long Term 5 EMA #M1.

Looking forward into this Week:

Patterns:

• Broadening Top (Study Links here, here or elsewhere) seen on the Day Chart - follow up re-formed top - its bottom is near the Fibonacci 76.4% mark.
• Bearish Harami is now active on the Long Term Screen and could trigger a 'Three Inside Down' #M1 (Study Links here, here or elsewhere).

Support & Resistance: 

• 13 SMA on the EOW (2044) #W1 and the Monthly 5 EMA (2023), are supports the Bulls look to stay above, this week.
• 5 EMA on the EOW (2055) #W1 and previous month's close i.e. 2059 are the resistances, that the Bears would want to stay below #W1.

Moving Averages:

• The 5 EMA and 13 SMA on the Medium Term Charts cross bearishly below 2016 #W1.

Indicators:

• TSI, holding above the 76.4% Fibonacci retrace keeps Bull Hope up #M2.

Wrap:

Bulls seek to deny the Bears a Long Term 'Three Inside Down' by getting & staying above 2059 #M1.
Bears look to get below 2016 and reach the 200 SMA on the EOD #D1.