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Monday, March 13, 2017

S&P 500 (Americas US) - 'Weekly Technical Analysis' - Some Red - Week 3 of March 2017.





Zoom into chart .. Click 



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

Index runs into resistance at the 2.62 Fibonacci resistance shown above.
Desperate Bears score their first red candle in weeks.
Last week's candle makes a Bearish Harami (google 'Bearish Harami') with the previous Green Candle.

Wrap: 

The Index faces resistance at the 2.62 extension of the last minor High-Low.




Looking forward into this Week:

Bears hope to Hold the index below the current resistance.

Bulls seek Higher Highs and Support at current levels.
Index Support and Resistance possibilities are marked as above. 


Wrap:
Bulls seeking another major Break out - run into a spot of resistance.
Desperate Bears look for a 'Three inside Down' as a follow up to the Harami.