US - S&P 500 - Triple Screen 'Technical Analysis' - 'W' Continues. - Week 3 of October 2015.

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

Patterns:

• 'W' pattern on the EOD chart firms up further #D1.
• On the Medium Term Screen, Index is seen on a 'Pull back' to the Week Channel's (orange) bottom line #W1.

Support & Resistance:

• Index took support at the 50 SMA on the Day Chart all week #D1 - it was resisted near the MVWAP35 on the Weekly Charts #W1.

Moving Averages:  

• The 5 EMA and 13 SMA, on the Month screen are Crossed Bearishly #M1.

Indicators:

• RSI 13, after lift off, from the oversold line, almost at the 50% mark #W2.  

Wrap:

Bulls hammer their way to above the 2K mark.
Bears stop the index near the weekly MVWAP35 #W1.

Looking forward into this Week:

Patterns:

• Pullback to Channel Bottom (Study Links here, here or elsewhere) #W1 and 'W' on the Day Chart are active (Study Links here, here or elsewhere) #D1.
• Both seem to be headed for a confluence, around the same target area on the chart.

Support & Resistance: 

• MVWAP35 on the long term screen #M1 (once again) is the support that Bulls want to stay above. Index has resistance at the 200 SMA on the Day chart #D1. 
• The 5 EMA and 13 SMA, on the Month screen will cross Bullishly if the index closes above 2161 #M1.

Moving Averages:

• Death Cross on the EOD, is active as long as the 50 SMA and the 200 SMA stay crossed Bearishly (Study Links here, here or elsewhere) #D1,

Indicators:

• STS is Oversold #W2.

Wrap:

Bulls push to reach the target for a big 'W' pattern #D1.
Bears look to defend 2161 and retain control of the long term screen #M1.