Learning from last Week: (click here for the previous `post)
- Bulls get rewards from the February Pin Bar #M1. Index moves up smartly to the Daily 222 SMA #D1.
- Index was resisted around the 222 SMA on the Daily Screen #D1. Support came in at the 13 SMA on the Day Screen #D1.
- The critical 5 EMA, is crossed bullishly above the 13 SMA, on the Day and Week Screens #D1.
- STS is in the over sold zone #D1.
Bulls use the Pin Bar on the Month Screen to good effect, Bears defend 222 SMA #D1.
Looking forward into this Week:
- MVWAP34 #D1, is the immediate support. The 222 SMA on the Day Charts is the resistance, that Bulls need to clear next #D1,
- A Death Cross (55 & 222 SMA), is on the Day Screen.
- RSI 13 staying above the 50% mark, is important for the Bull up move #W2.
Bulls on a roll, after Pin Bar, now consider the 222 SMA, in their path to making a higher high #D1.
Bears aim to keep the index below the 222 SMA #D1, then break below the day Channel #D1 and keep the down trend intact.