US - S&P 500 - Triple Screen 'Technical Analysis' - Marubozu - Week 1 of April 2016.

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

Patterns: 

• Bulls end March strong, with a Bullish Opening White Marubozu #M1.

Support & Resistance:

• Index stays below the middle tine of the fork #D1, which was  resistance. Support was again the 13 SMA on the same screen #D1.

Moving Averages:  

• The critical 5 EMA, is poised to cross bullishly or deflect bearishly with the 13 SMA, on the Long Term Screen #M1.

Indicators:

• STS remains in the over sold zone #D1.

Wrap:

Bears keep index below the previous High #W1. Bulls continue to hold it above the daily 13 SMA.

Looking forward into this Week:

Patterns:

• Pin Bar Candle's effect (Study Links here, here or elsewhere) produced an Opening White Marubozu (Study Links here, here or elsewhere) and they are both active #M1.

Support & Resistance: 

• Last High (2116) and the middle prong for the fork #D1 are the immediate resistances. The lower prong of the Fork #D1, and the Daily 222 SMA, are the immediate supports.

Moving Averages:

• A Death Cross (55 & 222 SMA), is active on the Day Screen.
• The critical 5 EMA, is poised to cross bullishly or deflect bearishly with the 13 SMA, on the Long Term Screen at 2090 #M1.

Indicators:

• RSI 13 going above the 50% mark, is important for the Bull up move #W2.

Wrap:

Dominant Bulls, eye a higher high #W1.
Bears look to slip below the Fork #D1, and go about making a lower low.