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Monday, April 13, 2015

S&P 500 - Triple Screen 'Technical Analysis' - Take off at 2068 - Week 3 of April 2015.















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


Patterns:
  • Bulls again fail to reach a higher high, but move up above the Day Channel's Bottom line - now showing higher lows and lower highs #D1.
  • March and February candles form a Bearish Harami, with April candle showing green - as of now #M1. 
Support & Resistance:
  • Index ran into resistance, approaching the previous High #D1, while support was at the 13 SMA on the EOD #D1.
Moving Averages:  
    • The all important, 5 EMA and 13 SMA, on the medium term screen, stay deflected Bullishly again last week #W1.
    Indicators:
    • RSI 13 is still in the 50s #W2.

    Wrap:
    Index makes higher lows and lower highs on the Day Chart, Bulls on top #D1.





    Looking forward into this Week:

    Patterns:
    • Bears Struggle to make a Long Term 'Three inside down' after the Bearish Harami - see last three candles #M1 (Study Links herehere or elsewhere)
    • Bulls look to History (re-look) #M1 & #M3, and the support at the 5 EMA #M1, for a resumption of the Bull run.
    Support & Resistance: 
    • 13 SMA on the EOW #W1, is the support that Bears should want to get below. 
    • Bulls look to break out of this consolidation with a break out, above 2115, the last high on the Day Charts #D1.
    Moving Averages:
    • With the Index above 2048, the 5 EMA and the 13 SMA on the Weekly  Charts, would stay deflected Bullishly #W1.
    Indicators:
    • TSI, support at the 61.8% Fibonacci retrace, good for the Bulls #M2.


    Wrap:
    Bears after triggering a Long term Bearish Harami, look to convert it into a '3 inside down', by closing April below 2068 #M1.
    Bulls want to get out of the current consolidation, with a break above 2115 and a push to the ATH #D1.




    The Dow Jones - Ichimoku Study - Thinning Kumo 6 - Week 3 of April 2015.







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

    Bears again fail to close the week below the Tenkan Sen even as this line shoots up  #W2.
    Tenkan Sen and Kijun Sen, gap widens #W2.
    Senoku Span A & B, gap narrow also widens #W3.
    Thinning Kumo and Price line catch up is imminent #W2.

    Wrap: Bears fail to close index below Tenkan Sen even as  Thinning Kumo is imminent #W2.



    Looking Forward into this Week:


    Bears eye the Thinning Kumo #W2 (Study Links herehere or elsewhere) for an opportunity to break into the Kumo.
    Bearish Cross of Tenkan Sen & Kijun Sen, at current range, next on Bear Agenda even as the gap between these lines is expected to fluctuate #W2.
    Chikou Span at current altitude, can meet up with the price line only after negotiating the earlier dip to the Kumo #W1.


    Wrap: Bulls look to stay above the Tenkan Sen and make new ATHs, Bears eye the Thinning Kumo to help bring the Index down #W2. 




    CNX Nifty 50 - Triple Screen 'Technical Analysis' - Mid Life Crisis? - Week 3 of April 2015.














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


    Patterns:
    • Bulls clear the Daily 50 SMA #D1, keeping above the Long Term 5 EMA (8534) #M1 and the Index reaches the mid point of the Day Channel #D1.
    • Bears get their Long Term 'Bearish Engulfing' followed by a green April candle - see last three candles #M1
    Support & Resistance:
    • Index takes off from the Weekly 5 EMA #W1 all way to the Day channel mid line #D1.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA on the EOW, remain crossed bearishly #W1.
    Indicators:
    • STS stays below the over bought line #W2.


    Wrap:
    Bears hold the Nifty at the Mid point of the Day Channel #D1.
    Bulls make a long green candle #M1 despite a Long Term 'Bearish Engulfing' #M1.




    Looking Forward into this Week:



    Patterns:
    • A Bearish Engulfing is active on the Long Term Screen (Study Links herehere or elsewhere) #M1. 
    • Above can turn into a Three Outside Down (Study Links herehere or elsewhere) #M1 to be watched for.
    Support & Resistance:
    • Index faces resistance at the Daily Channel's mid point #D1 and S1 on the Month Pivot #M1. 
    • Support points available are the weekly 13 SMA (8727) and the April Wall (8343) #W1.
    Moving Averages: 
    • Golden Cross (study herehere or elsewhere) of the 50 & 200 SMA is on - these MA's are currently converging #D1.
    Indicators:
    • Bulls look forward to the MACD on the Short term screen moving above the zero mark #D.


    Wrap :
    Bulls look to get above the Daily Channel's mid point #D1 and head for the ATH.
    Bears still hope for an April close below 8491 (the March Close), triggering a long term Three Outside Down #M1. 


    BSE Sensex - Ichimoku Study - Tenkan Sen taken - Week 3 of April 2015.







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


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


    Bulls take the Tenkan Sen #W2, after the Chikou Span bounce off the Price line #W1.

    Gap between the Senkou Span A & B  #W3, as also the Tenkan Sen & Kijun Sen steady #W2.


    Wrap: Index just above the Tenkan Sen #W2, Bulls capitalize on the Chikou Span bounce at Price line
     #W1




    Looking Forward into this Week:


    Chikou Span holding above the Price Line, gives Bulls another shot at the ATH #W1.

    Narrowing gap between the Tenkan Sen & Kijun Sen, opens possibility of bullish deflection or bearish cross #W2.


    Wrap: Bulls aim for a new ATH keeping above the Tenakan Sen.

     Bears look to push towards the Kumo once again, with a move below the Kijun Sen #W2.