Tuesday, June 6, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - 2458 - Week 1 of June 2017.

Zoom into chart .. 

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

Index after its take off from Support at the Tenkan Sen (Blue) clears resistance at the 113% of the Last Minor High Low (as above) - to reach the 141% retrace.
2458 is a confluence of two Retraces, 162% and 200% as above.


Bulls after making a Higher High, held back by the 141% retrace.

Looking forward into this Week:

Bears seek to hold the 141% to get back into the game.
Bulls after taking off from the Tenkan Sen, need to clear 2458 to keep the current trend.
Index Support and Resistance possibilities are marked as above. 

Bulls look to make new ATHs, staying above current support at the Tenkan Sen (blue line).
Bears seek to keep it below 2458