Learning from last Week: (click here for the previous `post)
- February 2016 candle, resembles a Pin Bar #M1.
- Index was resisted around the MVWAP 34 on the Weekly Screen as studied #W1. Support again was near the 5 EMA on the Day Screen #D1.
- The 5 EMA on the Day Screen is crossed bullishly above the 13 SMA on the Day and Week Screens #D1.
- STS is in the over sold zone #D1.
Bulls manage a Pin Bar for last month, Bears defend the weekly MVWAP 34 #W1.
Looking forward into this Week:
- MVWAP34 #D1, is the immediate support. The 200 SMA on the Day Charts is next resistance #D1,
- A Death Cross (50 & 200 SMA), is on the Day Screen.
- The 5 EMA and 13 SMA, stay crossed bullishly on the week screens as long as the index remains above 1949 #W1.
- RSI 13 clearing the 50% mark is important for the Bull up move #W2.
Bulls on a roll, after Pin Bar aim for the Day Channel Top #D1.
Bears aim to keep the index below the MVWAP 34 #W1, and then look to close below 1949 this week.