S&P 500 - Triple Screen 'Technical Analysis' - Long Term 3 Inside Down (stays on) - Week 4 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 EOM #M1 and MVWAP 34 on the EOD #D1, most of last week -  Bulls hold above the 34 MVWAP on the Medium Term Screen #W1 and 200 SMA on the EOD #D1.

Moving Averages:  

• 5 EMA and 13 SMA, on the medium term screen good for a Bullish Deflection or Bearish Cross #W1.

Indicators:

• RSI 13 in the 60s #W2.

Wrap:

Bears maintain hopes of a Long Term Three Inside Down by closing below 2059 #D1.
Bulls keep above the Short Term 200 SMA #D1.

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 (2048) #W1 and the Monthly 5 EMA (2023), are resistances the Bulls look to get above, this week.
• MVWAP 34 on the EOW #W1 and 200 SMA on the EOD #D1, are supports for the index, which Bears would want to break below

Moving Averages:

• The 5 EMA and 13 SMA on the Medium Term Charts stay crossed bearishly below as long as the index is below 2062 #W1.

Indicators:

• TSI, slipping below the 76.4% Fibonacci retrace by month end, gets Bull Hope down #M2.

Wrap:

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