US - S&P 500 - Triple Screen 'Technical Analysis' - Pin bar - Week 4 of January 2016.

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

Patterns:.

• More rewards from the 'Three inside down' pattern on the Weekly charts for the Bears as new lows are made #W1.
• Bulls lock in above the '23.6% Fibonacci retrace from the ATH to the March 2011 low' with a green pin bar #W1.

Support & Resistance:

• Index was resisted by the 13 SMA on the Day Screen #D1. Support was above the '23.6% Fibonacci retrace from the ATH to the 2008 (blue) low' #M1.

Moving Averages:  

• The 5 EMA on all Screens stay crossed bearishly below the 13 SMA on all screens. 

Indicators:

• RSI 13, in the 30s  #W2.  

Wrap:

Bulls close the week above the '23.6% Fibonacci retrace from the ATH to the March 2011 low' with a green pin bar #W1.

Bears prove a point, making a lower high (earlier) and a lower low (now) #W1.

Looking forward into this Week:

Patterns:

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

Support & Resistance: 

• 50 SMA on the Monthly chart is the next major support #M1. The 5 EMA on the Week Charts (1944) is  likely resistance #D1,

Moving Averages:

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

Indicators:

• STS stays in the oversold #D2.

Wrap:

Bulls after kick off upwards, from support at the '23.6% Fibonacci retrace from the ATH to the March 2011 low', seek more green with some help from the 'pin bar' #W1.
Bears look to enforce a lower low with the momentum from the 'Three inside down' pattern.