S&P 500 - Triple Screen 'Technical Analysis' - ATH returns - Week 5 of July 2015.

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

Patterns:

• After the 'Opening White Marubozu' of last week, Index makes a Higher High #D1, and then fall with the resistance at the ATH, to make an equally large red candle #W1.

Support & Resistance:

• Index again gets support at the weekly 34 MVWAP #W1. The resistance was again shy of the All Time High (ATH) #M1.

Moving Averages:  

• The 5 EMA and 13 SMA, in the medium term #W1, make a bearish deflection.

Indicators:

• RSI 13 meanders in the middle of the range for some time now #W2.

Wrap:

Bulls make a higher high, then fall back to support at the weekly MVWAP34 #W1. 
Bears use the resistance at the ATH to get back control of the Short term screen #D1.

Looking forward into this Week:

Patterns:

• With a week to go, the month candle resembles a High Wave (Study Links here, here or elsewhere) #M1 - worth a study.

Support & Resistance: 

• Daily 200 SMA #D1 and Monthly 13 SMA (2040), are the supports that Bulls want want to stay above. Index has resistance at the ATH #M1.

Moving Averages:

• On the EOW, 5 EMA will stay deflected, off the 13 SMA bearishly, if this week closes below 2125 #W1,

Indicators:

• STS 34, hangs around the overbought mark, despite the tall red candle last week #D2.

Wrap:

Bulls, want to use current supports to get back to the ATH #M1

Bears again hope for a lower low below the Daily 200 SMA #D1 and another month close below the long term 5 EMA (2072) #M1.