US - S&P 500 - Triple Screen 'Technical Analysis' - 'W' - Week 2 of October 2015.

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

Patterns:

• Last week's action produced a green 'Hammer' candle #W1.  
• Index showing a 'W' pattern #D1.

Support & Resistance:

• Index took support at the 5 EMA on the Day Chart all week #D1 - it was resisted by the 13 SMA on the Weekly Charts #W1.

Moving Averages:  

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

Indicators:

• RSI 13, after attempting a lift off, from the oversold line heads towards the 50% mark #W2.  

Wrap:

Bulls hammer their way to above the 2K mark.
Bears defend the weekly 13 SMA #W1.

Looking forward into this Week:

Patterns:

• 'Hammer' on the Week Chart is active (Study Links here, here or elsewhere) #W1.
• 'W' on the Day Chart is active (Study Links here, here or elsewhere) #D1.

Support & Resistance: 

• MVWAP 34 on the long term screen #M1 (once again) is the support that Bulls want to stay above. Index has resistance at the 200 SMA on the Day chart #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:

• STS almost a the Oversold #W2.

Wrap:

Bulls hammer their way to reaching the target for a 'W' pattern #D1.
Bears want life around the MVWAP 34 #D1 and then #M1.