US - S&P 500 - Triple Screen 'Technical Analysis' - 3 inside down - Week 2 of January 2016.

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

Patterns:.

• 'Three inside down' pattern forms on the Weekly charts #W1.

Support & Resistance:

• Index was resisted by the MVWAP34 on the Medium Term Screen #W1. Support was at the MVWAP34 on the Long Term Screen #M1.

Moving Averages:  

• The 5 EMA on the Month Screen deflects bearishly below the 13 SMA #M1. 

Indicators:

• RSI 13, in the 40s  #W2.  

Wrap:

Bears after holding the index to a lower high, crack through the previous Day Channel Bottom #D1.

Bulls keep index just above the long term MVWAP34 #M1.

Looking forward into this Week:

Patterns:

• 'Three inside down' pattern (Study Links here, here or elsewhere) is active on the Medium Term Chart #W1.

Support & Resistance: 

• Day Channel bottom (pink) #D1 is likely support.  Previous high (2080) is resistance #D1,

Moving Averages:

• The 5 EMA on the Monthly Screen will cross bullishly above the 13 SMA, if the index closes above 2070 this month #M1.

Indicators:

• STS dives to the oversold #D2.

Wrap:

Bulls hope the support at the MVWAP34 #M1, shows them some green.
Bears push to get some rewards of the 'Three inside down' pattern.