Monday, January 12, 2015

The Dow Jones - Ichimoku Study - Tenkan Sen Support - Week 3 of January 2015.

Introduction / Primer to Ichimoku can be read at this link (click). 

Learning from the earlier Study: (click here for the post)

Index almost makes it to the Kijun Sen - but closes the week above the Tenkan Sen #W2.
Tenkan Sen and Kijun Sen flat and gap steady #W2.
Senoku Span A & B gap flat #W3.

Wrap: Bulls pull back above the Tenkan Sen after a deep dive to near the Kijun Sen #W2.

Looking Forward into this Week:

Bears aim for a journey back to the Kumo, starting with a close below the Tenkan Sen #W2.
Bearish Cross of Tenkan Sen & Kijun Sen, at current range, next on Bear Agenda #W2.
Chikou Span Cross/Deflection of the Index can show direction going forward #W2.

Wrap: Bulls look to get back to the ATH, while as Bears see life below the Tenkan Sen #W2.

S&P 500 - Triple Screen 'Technical Analysis' - Long Term 3 Inside Down (still on) - Week 3 of January 2015.

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

  • Bear hope up  after November and December Candles form Bearish Harami. Last three Monthly Candles now make a 'Three Inside Down' - for now - #M1.
Support & Resistance:
  • Bears keep the index below the 5 EMA on the EOW #W1 and MVWAP 34 on the EOD #D1, most of last week -  Bulls hold above the 5 EMA on the Long Term Screen #M1 and 13 SMA on the EOW #W1.
Moving Averages:  
    • Daily 5 EMA and 13 SMA, stay crossed bearishly as of last weekend #D1.
    • RSI 13 now in the 60s #W2.

    Bears maintain hopes of a Long Term Three Inside Down by closing below 2059 #D1.
    Bulls keep above the Long Term 5 EMA #M1.

    Looking forward into this Week:

    • Broadening Top (Study Links herehere or elsewhere) seen on the Day Chart - follow up re-formed top - its bottom is near the Fibonacci 76.4% mark.
    • Bearish Harami is now active on the Long Term Screen and could trigger a 'Three Inside Down' #M1 (Study Links herehere or elsewhere).
    Support & Resistance: 
    • 13 SMA on the EOW (2044) #W1 and the Monthly 5 EMA (2023), are supports the Bulls look to stay above, this week.
    • 5 EMA on the EOW (2055) #W1 and previous month's close i.e. 2059 are the resistances, that the Bears would want to stay below #W1.
    Moving Averages:
    • The 5 EMA and 13 SMA on the Medium Term Charts cross bearishly below 2016 #W1.
    • TSI, holding above the 76.4% Fibonacci retrace keeps Bull Hope up #M2.

    Bulls seek to deny the Bears a Long Term 'Three Inside Down' by getting & staying above 2059 #M1.
    Bears look to get below 2016 and reach the 200 SMA on the EOD #D1.

    CNX Nifty 50 - Triple Screen 'Technical Analysis' - 3 Outside Down, unDone again - Week 3 of January 2015.

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

    • November and December 2014 candles on Month screen #M1, formed a 'Bearish Engulfing' with a month close at 8283 #M1. Index closed last week at 8285.
    • Last two candles on the EOW make a Dark Cloud Cover pattern #W1.
    Support & Resistance:
    • Index closes near the January Pivot.
    • Day Channel's blue mid-line, was again the resistance zone.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA on the EOW, poised again for deflection or cross #D1.
    • MACD and its MA stay below the zero line  #D2.
    • STS hangs around the over bought line #W2.

    Bulls manage to close the week at 8285, marginally above our mark of 8283 Bears come back with a Dark Cloud Cover over the previous week #M1.

    Looking Forward into this Week:

    • 'Bearish Engulfing' on the Monthly Charts becomes a 'Three Outside Down', if January Closes below 8283 (Study Links herehere or elsewhere) #M1.
    • Bears produce a Dark Cloud Cover Pattern #W1 (Study Links herehere or elsewhere) #M1.
    Support & Resistance:
    • Index resistances that the Bulls would want to get above this week, are the Weekly 13 SMA (8333) and 8394 #W1.
    • Resistances that the Bears seek to stay below, are 8283 and the Wall for January (8174)
    Moving Averages: 
    • Golden Cross (study herehere or elsewhere) of the 50 & 200 SMA is on - these MA's are currently steady #D1.
    • Bullish Deflection of the 5 EMA and 13 SMA, on the EOW will continue, if index closes the week above 8394 #W1.
    • STS, moving below the overbought, would pause the 3+ quarter long Bull domination of the Medium and Long Term Screens #W2.

    Wrap :
    Staying above 8283, Bulls intend to deny the Bears the advantage, or a Long Term 'Three Outside Down' #M1.
    Bears see life below 8174, with a shot at getting below the October'14 low on the EOD #D1.

    BSE Sensex - Ichimoku Study - Tenkan Sen Breaks - Week 3 of January 2015.

    Learning from the Earlier Study: (click here for the post)

    Index  after ranging between the Kijun Sen and Tenkan Sen, breaks out above the Tenkan Sen, but falters at the last High and closes the week below it #W2.
    Senkou Span A & B - gap steady #W3.
    The gap between Tenkan Sen and Kijun Sen is also steady #W2

    Wrap: Index back in the Tenkan Sen and the Kijun Sen range 

    Looking Forward into this Week:

    Senkou Span 'A & B' converging will be bad for the Bulls #W3.
    A Bearish, Chikou Span cross with Price line, at current altitude, will need a few more weeks #W1.
    Bears seek to move the Tenkan Sen below the Kijun Sen and take out the last Index low #W2.

    Wrap: Bulls Seek life above the last All Time High, whereas Bears look at moving the index below the 'Tenkan Sen - Kijun Sen' range and heading towards the Kumo