Monday, April 20, 2015

S&P 500 - Triple Screen 'Technical Analysis' - Range - Week 4 of April 2015.

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

  • Index stays range bound with the range getting tighter with a Lower High and Higher Low #D1.
  • March and February candles form a Bearish Harami, with April candle showing green - as of now #M1. 
Support & Resistance:
  • Index reverses exactly from the resistance line made by the previous Highs #D1, while support was also precisely at the 13 SMA on the EOW #W1.
Moving Averages:  
    • The all important, 5 EMA and 13 SMA, on the medium term screen, stay deflected Bullishly again last week #W1.
    • RSI 13 is still in the 50s #W2.

    Index again makes a lower high on the Day Chart, Bulls still on top #D1.

    Looking forward into this Week:

    • 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: 
    • 5 EMA on the EOW (2081) #W1, is the Index Support that Bears want to get below. 
    • Bulls look to get out of this consolidation, with a break out above 2112, the last high on the Day Charts #D1.
    Moving Averages:
    • If the Index manages to close the week above 2059, the 5 EMA and the 13 SMA on the Weekly  Charts, would stay deflected Bullishly #W1.
    • TSI, support at the 61.8% Fibonacci retrace, good for the Bulls #M2.

    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 2112 and a push to the ATH #D1.

    The Dow Jones - Ichimoku Study - Thinning Kumo ! - Week 4 of April 2015.

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

    Bears close the week below the Tenkan Sen even as this line shoots up and runs into the Price line #W2.
    Tenkan Sen and Kijun Sen, gap narrows #W2.
    Senoku Span A & B, gap narrow widens #W3.
    Thinning Kumo and Price line catch up #W2.

    Wrap: Bears close index below Tenkan Sen even as  Thinning Kumo just below the Price line #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 narrows #W2.
    Chikou Span at current altitude, can meet up with the price line in a couple of weeks #W1.

    Wrap: Bulls look to get back above the Tenkan Sen Pronto, Bears eye the Thinning Kumo to help bring the Index down #W2. 

    CNX Nifty 50 - Triple Screen 'Technical Analysis' - Mid Life Crisis rewards - Week 4 of April 2015.

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

    • Index falls back from the Mid-Line of the Day Channel #D1, and Bears reap some rewards  and enforce a Engulfing on the previous week's candle #W1.
    • Bulls counter the Long Term 'Bearish Engulfing' with a green April candle - see last three candles #M1
    Support & Resistance:
    • Index falls from the Day channel's mid line #D1, to the Month Channel's mid line #M1.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA on the EOW, remain crossed bearishly #W1.
    • STS stays below the over bought line #W2.

    Bears hold the Nifty at the Mid point of the Day Channel and drive the index below the 13 SMA #D1.
    Bulls still hold a green candle for April #M1, despite a Long Term 'Bearish Engulfing' #M1.

    Looking Forward into this Week:

    • A Bearish Engulfing is active on the Long Term Screen (Study Links herehere or elsewhere) #M1 and on the Medium Term Screen #W1.. 
    • Above can turn into a Three Outside Down (Study Links herehere or elsewhere) #M1 and #W1, to be watched for.
    Support & Resistance:
    • Index faces resistance at the Day Channel's mid point #D1 and S1 on the Month Pivot #M1. 
    • Support points available are the Month Channel's Mid-Line 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.
    • Bulls look forward to the MACD on the Short term screen staying above the zero mark #D.

    Wrap :
    Bulls look to get above the Daily Channel's mid point #D1 and head for the ATH.
    Bears hope for an April close below 8491 (the March Close), triggering a long term Three Outside Down #M1 and like wise this week's close below 8606 #W1.

    BSE Sensex - Ichimoku Study - Tenkan Sen gives - Week 4 of April 2015.

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

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

    Index below the Tenkan Sen #W2, in another Yo Yo, as bulls lose steam #W1.

    Gap between the Senkou Span A & B  #W3 increases.
    Gap between the Tenkan Sen & Kijun Sen decreases #W2.

    Wrap: Bears move Index just below the Tenkan Sen, Bulls fight to prevent a cross of the Tekan Sen below the Kijun Sen

    Looking Forward into this Week:

    Chikou Span at current altitude, can meet the Price line in a couple of weeks #W1.

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

    Wrap: Bulls aim for life above the Tenkan Sen. 
    Bears look to push towards the Kumo once again, with a move below the Kijun Sen #W2.