US - S&P 500 - Triple Screen 'Technical Analysis' - Flag 2 - Week 5 of September 2015.

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

Patterns:

• The Flag seen on the Daily Chart, yet to resolve completely - advantage Bears as of last week #D1.  
• The Pin bar that formed the previous week, produces a long red candle #W1.

Support & Resistance:

• Index took support around the previous low #D1 - it was resisted by the 13 SMA on the Daily Charts #D1.

Moving Averages:  

• The 5 EMA and 13 SMA, on the day screen, is now crossed Bearishly #D1.

Indicators:

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

Wrap:

Bears regain control of all three screens by end week, Bulls hold off at the last low #W1.

Looking forward into this Week:

Patterns:

• 'Flag' on the Day Chart is active (Study Links here, here or elsewhere) #D1.

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 Orange Bottom of the Weekly Channel  #W1. 

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, now seek full resolution of the range defined by the Flag #D1, this week.