Learning from last Week: (click here for the previous post)
Patterns:
Last weeks candle opens the possibility of an Evening Doji Star formation #W1.
Support & Resistance:
Middle Tyne of the fork on the day screen #D1, was once again the resistance last week, The daily 50 SMA was the support.
Moving Averages:
The critical 5 EMA, remains bullishly above the 13 SMA, on all screens.
Indicators:
STS in the Over bought zone #D2.
Wrap:
Bears again keep the index below the previous High (2116) #W1. Index makes a Doji #W1.
Looking forward into this Week:
Patterns:
'Closing White Marubozu' (Study Links here, here or elsewhere), remains active on the Week Chart #W1.
Support & Resistance:
Last High (2116) continues to be the resistance to beat. The lower tyne of the fork is the support #D1.
Moving Averages:
The 55 & 222 SMA, is a in a 'Golden Cross' on the Day Screen #D1.
Indicators:
TSI is facing resistance at the 61.8% mark #M2.
Wrap:
Bulls, sliding higher, just below the middle Tyne of the fork #D1, are progressing towards making a higher high (2116+) #W1.
Bears seek to get the Index below the fork #D1.
