Wednesday, April 11, 2012

EOD Technical Analysis, S&P 500 - 10 April 2012 - Bearing it..

S&P 500 - End of Day - 10 April  2012   

Our final line for last weekend's post (click) was a cheeky 'Time to Bear it'
We also suggested that if the Moving VWAP was compromised on the EOD, the index would head for the 'white' week channel's bottom line.

Precisely what has happened, as one can see from the chart.

In other news...
On the Ichimoku Study we made last weekend (click), the EOD screen sees the Kijun Sen (blue line) Cross which is a Weak Bearish Signal
EOD also has a Chikou Span (purple line) Cross which has the same property as the Kijun Sen cross, price being above the Kumo for both. 
Price is currently in the Kumo on EOD, as you would have seen by now.

The markets are rebounding even as we post this one.
Bulls need to cross above the 35 MVWAP (SP500 study) on the EOD and get above the Kumo (DJI Study) while they are at it..
..else one has to keep 'bearing it'

EOD Technical Analysis, CNX Nifty - 11 April 2012 - Cat and mouse..

Nifty - End of Day - 11 April  2012     
In our last intra week note (post below this one), we suggested that the Nifty was in Neutral - Stand Off mode.
We also suggested that channel break or 5 EMA / 13 SMA cross would give the bears, short term strength.
We further suggested that 5225 was the mark for the cross.

We have a close at 5227 today and higher yesterday.
Channel break of significance is yet to happen and the 5 EMA / 13 SMA are in touch.
Yet, based on global cues, Nifty played cat and mouse with the Bear zone, all week.

The short term remains Neutral, as it was for the last two posts.
Watch the 5 EMA / 13 SMA if its a cross or 'touch and go' (deflection).
Based on that Nifty could go bear or BULL !