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Tuesday, September 20, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Pullback Season - Week 4 of September 2016.






 




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

Patterns:

Week and Day Screens see a Pullback to Resistance #WeekChart1 & #DayChart1.
 
Support & Resistance:
 
Pullback to resistance at the Middle Tyne of the Fork on the Weekly chart #WeekChart1, and the lower Tyne of the Day Fork #DayChart1. The Monthly 5 EMA was Support #MonthChart1.

Moving Averages:
The critical EMA 5, is bullishly above the MA 13, only on the Month Chart
#MonthChart1.

Indicators:
The STS at the oversold #
DayChart2.

Wrap:

Bulls make a Pullback #DayChart1 & #WeekChart1. Month remains red #MonthChart.




Looking forward into this Week:

Patterns: 

'Evening Star' Pattern (Study Links here, here or elsewhere) can stay active, if the September close is below 2171 #MonthChart1. 
Pullback to resistance in progress on two charts above (Study Links here, here or elsewhere) #WeekChart1 & #DayChart1.

Support & Resistance:
MVWAP34 on the Weekly chart is support #WeekChart1. Bottom Tyne of the Fork on the Daily chart is first resistance #DayChart1.
 
Moving Averages:
The
EMA 5, on the Long Term Chart is a 2128 for the month - a mark the Bulls need to defend #MonthChart1.
 
Indicators:
TSI returns from resistance at the 74% Fibonacci mark #MonthC
hart2.


Wrap:
 
Bulls Pullback seeking life above 2171. Bears want to complete the pullback and continue down #WeekChart1 & #DayChart1.