S&P 500 - Triple Screen 'Technical Analysis' - 3 inside down and 2068 - Week 2 of April 2015.

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


Patterns:

• Bulls fail to make a higher high again and close below the channel's bottom line in a repeat performance #D1.
• March and February candles form a Bearish Harami, with April candle showing red - as of now #M1. 

Support & Resistance:

• Index found resistance at the Daily MVWAP 34, #D1, while support was at the 5 EMA on the EOM #M1.

Moving Averages:  

• The all important, 5 EMA and 13 SMA, on the medium term screen, stay deflected Bullishly as of last week #W1.

Indicators:

• RSI 13 is still around the 50s #W2.

Wrap:

Index resisted near the Daily MVWAP 34 #D1, takes support at the Long Term 5 EMA #M1.

Looking forward into this Week:

Patterns:

• Bulls now need to prevent a Long Term Three inside down (Study Links here, here or elsewhere) #M1. 
• Bulls look to History (re-look) #M1 & #M3, and the support at the 5 EMA #M1, for a resumption of the Bull run.

Support & Resistance: 

• Day Channel's Bottom Line, is the resistance that Bears want to keep below, this week also. 
• Bulls seek to keep above the support at the 5 EMA on the EOM (2052) #M1.

Moving Averages:

• Above 2049, the 5 EMA and the 13 SMA on the Weekly  Charts, would stay deflected Bullishly #W1.

Indicators:

• TSI, support at the 61.8% Fibonacci retrace, would hold some cheer for the Bulls #M2.

Wrap:

Bears after triggering a Long term Bearish Harami, look to convert it into a 3 inside down, by closing April below 2068 #M1.

Bulls trust History #M1 & #M3 and aim to keep above the 5 EMA on the month chart.