US - S&P 500 - Triple Screen 'Technical Analysis' - Stars - Week 2 of April 2016.

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

Patterns: 

• Bears force a red week, with a lower low in mind #W1.
• First three candles of this year, form a Morning Star, the last candle on the screen (April) is a Doji currently #M1.

Support & Resistance:

• Index stays below 2075 the recent high #D1, which was  resistance. Support was the 55 SMA on the weekly screen #W1.

Moving Averages:  

• The critical 5 EMA, is poised to cross bullishly or deflect bearishly with the 13 SMA, on the Day Screen #D1.

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 222 SMA.

Looking forward into this Week:

Patterns:

• Morning Star (Study Links here, here or elsewhere) active on the Month Chart #M1.

Support & Resistance: 

• Last High (2116) is the immediate resistance. The Daily 222 SMA, is the immediate support #D1.

Moving Averages:

• A Death Cross (55 & 222 SMA), is active on the Day Screen.
• The critical 5 EMA, is poised to cross bearishly or deflect bullishly with the 13 SMA, on the Day Screen on first trading day of this week - level to watch for the day is 2054 #D1.

Indicators:

• RSI 13 almost at the oversold line #W2.

Wrap:

Star struck Bulls, eye a higher high and a rush to the ATH #W1.
Bears look to slip below the Fork #D1, and go about making a lower low below the 222 SMA.