S&P 500 - Triple Screen 'Technical Analysis' - Pennant - Week 3 of September 2015.

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

Patterns:

• The 'Opening Black Marubozu' on the Medium Term Charts studied last, gives the Index a continuation with an inside week #W1.
• The Pennant is seen on the Day Charts, as a result of the above #D1.  

Support & Resistance:

• Index took support above the 5 EMA and 13 SMA on the Day Screen by weekend #D1 - it was resisted by the 5 EMA on the Weekly Chart #W1.

Moving Averages:  

• The 5 EMA and 13 SMA, on the day screen, are crossed Bullishly #D1.

Indicators:

• RSI 13, after meandering in the middle of the range for a year, is currently attempting a bounce off the oversold line #W2.  

Wrap:

Bulls and Bears exchange dominance thro' the week, to produce a Pennant #D1.

Looking forward into this Week:

Patterns:

• 'Pennant' on the Day Chart is active (Study Links here, here or elsewhere) #W1.

Support & Resistance: 

• MVWAP 34 on the long term screen (once again) is the support that Bulls want to stay above #M1. Index has resistance at the Daily MVWAP 34  #D1. 

Moving Averages:

• Death Cross on the EOD, is active as long as the 50 SMA and the 200 SMA stay crossed Bearishly (Study Links here, here or elsewhere) #D1,

Indicators:

• TSI slips below the 50% retrace #M2.

Wrap:

Bulls and Bears seek resolution of the range defined by the Pennant #D1, this week.