Learning from last Week: (click here for the previous post)
Patterns:
Index manages to get back into the Day Fork after falling off #Daychart1, making an inside week in the process #Weekchart1, and closing above our mark 2141.
Support & Resistance:
Resistance was again at the daily 13MA #DayChart1. Support near the bottom Tyne of the Day Fork #Daychart1.
Moving Averages:
The critical EMA 5, is bullishly above the MA 13, only on the Month Chart (landing 1909 for Oct'16) #Monthchart1.
Indicators:
The RSI is near the center of the range #WeekChart2.
Wrap:
Bulls hold the Action above the bottom Tyne of the Day Fork #DayChart and make a green week.
Looking forward into this Week:
Patterns:
'Evening Star' Pattern (Study Links here, here or elsewhere) is active on the Long term charts #MonthChart1.
Support & Resistance:
Bottom Tyne of the Day Fork is support #DayChart1. Middle Tyne of the Fork on the Week chart is resistance #WeekChart1.
Moving Averages:
5 EMA on the Month chart i,e, 2141, is the mark, that the Bulls want to stay above, this month #MonthChart1.
Indicators:
TSI returns from resistance at the 74% Fibonacci mark #MonthChart2.
Wrap:
Bulls after allowing an Evening Star #MonthChart1, get a save, closing above 2141.
Bears want to keep below the middle Tyne of the Week Fork, and aim for life below 2116.
