Monday, May 15, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Three time ATH - Week 3 of May 2017.

Zoom into chart .. Click 

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

Index keeps above Support at the Tenkan Sen (Blue) as marked above.
The All Time High is resistance again.


Bears hold the index, keeping it a Double Top.

Looking forward into this Week:

Bears need to hold the Double Top to get back in the game.
Bulls keep the pressure on, pushing for Higher Highs, to beat the Double Top.
Index Support and Resistance possibilities are marked as above. 

Bulls look to crack the Double Top, staying above current support at the Tenkan Sen (blue line).
Bears hope to restart the downward momentum after the red week, defending the current top