Learning from last Week: (click here for the previous post)
- Bears close the index at the 50 SMA #D1, index makes the right shoulder perfectly and is almost at the neckline of the Head and Shoulder (H&S) pattern #D1, on the Day Chart.
- Index closes at the Daily 50 SMA #D1. After facing resistance at the daily 13 SMA #D1.
- The critical 5 EMA, is bearishly below the 13 SMA, only on the Day Screen #D1.
- STS below the 50% mark #D2.
Bears keep the index below the previous High #W1. Bulls continue to hold above the daily 222 SMA but almost allow a bearish 'Head and Shoulder' on the day screen #D1.
Looking forward into this Week:
- Last High (2116) continues to be the resistance to beat. The Daily 222 SMA, is still the support, that Bulls want to stay above #D1.
- TSI is above the 50% mark #M2.
Bears would want to break down below the neckline of the H&S and then the 222 SMA #D1.