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Tuesday, May 1, 2012

EOM Technical Analysis, S&P 500 - 30 April 2012 - Update


S&P 500 - End of Month - 30 April  2012  
This is an update to our Weekend Study (click).
The April 2012, month closed on a cautious note for the Bulls. We have the final candle as above.
As one can see from the candle pattern circled - we have a Bearish Harami (low reliability).
If May 2012 closes below the close of April 2012 (i.e 1398), this Harami mutates into a "Three Inside down".
Keeping above the 1398 mark, the Bulls aim for the Red Channel Top.
For those who missed out... here are the recent links we used to study the above patterns.


Bearish Harami (Low Reliability)
http://www.thepatternsite.com/HaramiBear.html
http://www.traderslog.com/bearish-harami-weekly-candlestick/


Three Inside Down (High Reliability)
http://www.moneycontrol.com/glossary/technicals/what-is-three-inside-down-bearish-reversal-pattern_1683.html
http://www.leavittbrothers.com/education/candlestick_patterns/bear/three_inside_down_bearish.cfm

EOM Technical Analysis, CNX Nifty - 29(30) April 2012 - Update


Nifty - End of Month - 30 April  2012     
This is an update to our Weekend Study (click).
The April 2012, month closed yesterday and on a Bullish note.
Close was above our mark of 5220, and we should see the Short MAs (5 EMA / 13 SMA) bullishly crossed over, when the next candle appears tomorrow. 
This cross is valid above 5199 for the month.
The Bears can still look forward to the "Three inside down". Studied last weekend.
If Nifty stays above the Wall for the month (5189) and better, above the 5199 - Bulls are safe.