S&P 500 - Triple Screen 'Technical Analysis' - Bear High - Week 1 of July 2015.

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

Patterns:

• Index extends its bounce off the bottom of the Day Channel #D1, this month's candle now resembles a Doji or a spinning top #M1.

Support & Resistance:

• Index found resistance well before the previous high - and support before the previous low #D1.

Moving Averages:  

• With a close at 2012, the 5 EMA and 13 SMA, in the medium term #W1, again touch and go as in a bullish deflection.

Indicators:

• RSI 13 meanders in the middle of the range for some time now #W2.

Wrap:

Bulls stop short of the previous low and the long term 5 EMA #M1. 
Bears stop the index well short of the ATH, and retake the short term screen #M1.

Looking forward into this Week:

Patterns:

• Bulls keep the index above the Long term 5 EMA, for the 4th month running. The previous two month candles #M1, resemble spinning tops as does the June candle (Study Links here, here or elsewhere). 

Support & Resistance: 

• The Day Channel Bottom #D1, is the support that Bears want to get below. 
• Bulls seek to get above 2114 #W1 and clear the ATH #M1. 

Moving Averages:

• Bulls if they close this Week above 2114, will retain the Bullish deflection of the 5 EMA and the 13 SMA on the Weekly Charts  #W1.

Indicators:

• STS 34 returns at the oversold mark #D2.

Wrap:

Bulls, keeping above the long term 5 EMA, look to make a new ATH #M1

Bears want a weekly close below 2114, and a break below the Day Channel #D1.