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Monday, June 22, 2015

S&P 500 - Triple Screen 'Technical Analysis' - High Wave Highs - Week 4 of June 2015.














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


Patterns:
  • The Weekly Chart, shows a green week after a High Wave (last two candles) #W1.
  • Index extends its bounce off the bottom of the Day Channel #D1 making this month's candle a Doji #M1.
Support & Resistance:
  • Index was supported near the daily MVWAP34 #D1, while is stopped short of the All Time High (ATH) #M1.
Moving Averages:  
    • The 5 EMA and 13 SMA, in the medium term view #W1, touch and go as in a bullish deflection.
    Indicators:
    • RSI 13 is right in the 50s #W2.

    Wrap:
    Bulls retake all screens after the High Wave candle #W1. 
    Bears stop the index well short of the ATH #M1.




    Looking forward into this Week:

    Patterns:
    • High Wave's effect is active on the medium term chart (Study Links herehere or elsewhere).
    • Bulls keep the index above the Long term 5 EMA, for the 4th month running. The previous two month candles #M1, are green and resemble spinning tops (Study Links herehere or elsewhere).
    Support & Resistance: 
    • 5 EMA on the Month Chart (2077) #M1 and the Day Channel Bottom #W1, are the Index Supports that Bears want to get below. 
    • Bulls seek to keep above the strategic 2102 #D1 and clear the ATH #M1. 
    Moving Averages:
    • Bulls if they close this Week above 2102, will retain the Bullish deflection of the 5 EMA and the 13 SMA on the Weekly Charts  #W1.
    Indicators:
    • TSI, support at the 61.8% Fibonacci retrace by June end, good for the Bulls #M2.


    Wrap:
    Bulls, keeping above the monthly 5 EMA #M1, look to make a new ATH #M1
    Bears want a weekly close below 2102, and a break below the Day Channel #D1.


    The Dow Jones - Ichimoku Study - Chikou Span Reach - Week 4 of June 2015.







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


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

    Index bounces off from support at the Kijun Sen but gets sent back at the Tenkan Sen yet again #W2.
    Gap between the Tenkan Sen and Kijun Sen steady #W2.
    Senoku Span A & B, gap increases #W3.
    Chikou Span deflects off the Price line #W1.

    Wrap: Index takes support at the Kijun Sen, Chikou span stays deflected off the Price line #W1.



    Looking Forward into this Week:


    Bears seek for the next opportunity to dive into the Kumo #W2.
    Cross of Tenkan Sen, to below the Kijun Sen, is next on Bear wishlist #W2.
    Chikou Span is on a Bullish deflection, off the Price line, Bulls need to reach higher with the index this week, to keep this going #W1.


    Wrap: Bulls look to stay above the Kijun Sen and aim for the All Time High, Bears seek a Bearish Cross of the Chikou Span and the Price line #W2. 



    CNX Nifty 50 - Triple Screen 'Technical Analysis' - Channel Action - Week 4 of June 2015.















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

     

    Patterns:
    • Bullish Harami on the long term chart. produces a red June candle as of now #M1.
    • The bearish 'Three inside Down' on the weekly charts gives way to the Bulls #W1.
    • Death Cross on the Day Charts yet to reward the Bears #D1.
    Support & Resistance:
    • Index bounces off neatly from support at the red Bottom line of the Day Channel #D1.
    • Bears manage to defend the weekly 50 SMA #W1 last week.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA on the Daily charts, makes a Bullish cross #W1.
    Indicators:
    • MACD crosses its MA, both stay below the zero line, its Histogram ticks above zero #D2.


    Wrap:
    Bulls bounce from support at the Bottom of the Day Channel #D1.
    Bears get a Death Cross, and defend the 50 SMA on the medium term chart #W1..





    Looking Forward into this Week:


    Patterns:
    • 'Death Cross' is active on the Day Charts, as the 50 SMA dives under the 200 SMA (study herehere or elsewhere) #D1.
    • A Bullish Harami (Study Links herehere or elsewhere) #M1 is active on the long term chart. 
    Support & Resistance:
    • Bulls have support  at the Day Channel's bottom line #D1, and at the 76.4% Fibonacci retrace (8040) 'of the 2011 low to the ATH' #W1.
    • Resistance is expected at the Day Channel's blue middle line #D1 and the 50 SMA on the Day and Week (8288) charts  #W1.
    • Wall for June 2015 is 8321. 
    Moving Averages: 
    • The Death Cross is active as long as the 50 SMA stays below the 200 SMA #D1 - gap between these MAs, is currently increasing.
    Indicators:
    • Bulls hope that the TRD would continue to climb, to settle above the 50% mark this month #M2.


    Wrap :
    Bulls look to get above the June Wall (8321) after clearing the 50 SMAs - #W1 & #D1.
    Bears plan to use the Death Cross's effect, to get the index below 8040 #W1. 



    BSE Sensex - Ichimoku Study - Peep out of the Kumo - Week 4 of June 2015.






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


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


    Index peeps out of the Kumo 
    #W2.
    Gap between the Senkou Span A & B  narrows further #W3.
    Gap between the Tenkan Sen and the Kijun Sen widens #W2.
    Chikou Span resisted at the Price line #W1.
    Tenkan Sen was the resistance for the Index last week #W2.


    Wrap: 

    Index peeps our of the Kumo #W2, Chikou Span and Tenkan Sen touch the Price line #W1, #W2.
    Bulls fight back to a deuce with a long green week #W2.



    Looking Forward into this Week:


    Chikou Span clearing the Price line and Price line clearing the Tenkan Sen are on the Bull wish list for the week #W1&W2.

    Narrowing gap between the Senkou Span A & B, makes a bullish deflection or bearish cross, imminent #W3.
    Bull hope rests on staying above the rather thick Kumo (Study Links herehere or elsewhere) #W2.



    Wrap:

    Bulls fight to stay above the Kumo, point the Chikou Span above the Price line and manage a deflection of the Senkou Span A & B  #W1. 
    Bears look to slide back into the Kumo, retaining the Bearish Crosses #W2.