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Monday, July 13, 2015

S&P 500 - Triple Screen 'Technical Analysis' - Channel Pullback 2 - Week 3 of July 2015.













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


Patterns:
  • Index pulls back to Day Channel's Bottom #D1 again, 'Opening black Marubozu' of the previous week is followed by a red Doji #W1.
Support & Resistance:
  • Index gets support above the long term 13 SMA #M1. The Day Channel's Bottom line #D1 and the 34 MVWAP #W1, resist attempts of the Bulls to close higher #D1.
Moving Averages:  
    • The 5 EMA and 13 SMA, in the medium term #W1, stay crossed bearishly.
    Indicators:
    • RSI 13 meanders in the middle of the range for some time now #W2.

    Wrap:
    Bulls close above the long term 5 EMA #M1. 
    Bears break below the Day Channel and do a repeat pullback #D1.




    Looking forward into this Week:

    Patterns:
    • On the Long Term Screen a 'Closing black Marubozu' (Study Links herehere or elsewhere) #M1, is active.  Doji on the Medium Term Screen points to indecision #W1.
    Support & Resistance: 
    • 34 MVWAP #W1, and the Day Channel Bottom #D1, are the resistances that Bulls want want to get above. Index has support at the Daily 200 SMA #D1.
    Moving Averages:
    • On the EOW, 5 EMA will cross the 13 SMA bullishly, above 2144 #W1,
    Indicators:
    • STS 34 at the oversold mark #D2.


    Wrap:
    Bulls, keeping above the long term 5 EMA, look to get back into the Day Channel #M1
    Bears want life below the 200 SMA #D1.


    Europe CAC 40 - Ichimoku Study - Kijun Sen Support - Week 3 of July 2015.







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


    Learning from the Earlier Study: (This is a new study)


    Chikou Span drops, within striking distance of the Price line #W1.
    After slipping below the Tenkan Sen earlier, Index slips below the Kijun Sen, recovers to close the week above this line #W2.

    Gap between the Senkou Span A & B, reduces last week #W3.
    Gap between the Tenkan Sen and the Kijun Sen also reduces #W2.


    Wrap: 

    Bulls keep Index above the Kijun Sen #W2 and Chikou Span above the Price line #W1. 

    Bears force price lower, but fail to keep the advantage #W2.


    Looking Forward into this Week:



    Bulls need to keep the Chikou Span well above the Price line, to continue their good Times #W1.
    Index closing above the Kijun Sen, a strong support, good for Bulls #W2.

    Gap between the Senkou Span A & B is wide, making a thick Kumo - and a strong support to come #W3.
    Gap between the Tenkan Sen and the Kijun Sen reduces -  bullish deflection or bearish cross in some time #W2.



    Wrap:

    Index staying above the Kijun Sen #W2, and Chikou Span above the Price line #W1, good for Bulls.
    Index closing below the Kijun Sen #W2,, is the Bear's ask, this week.




    CNX Nifty 50 - Triple Screen 'Technical Analysis' - Shooting Star - Week 3 of July 2015.














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

     

    Patterns:
    • The EOW chart produces a Shooting Star last week #W1.
    Support & Resistance:
    • Index closes the week below the July Wall (8398) after Bears defended our marks, the R1 on the Monthly charts and Channel mid-line #M1.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA on the Weekly charts, stay bullishly deflected with a lower meeting point of 8121 #W1.
    Indicators:
    • On the Day chart, MACD and its MA meet, histogram ticks down #D2.


    Wrap:
    Bulls slip below the mid-line of the Day channel #D1, after resistance at the monthly R1 #M1Bears get index below the Wall (8398).





    Looking Forward into this Week:


    Patterns:
    • A shooting star on the Weekly Charts #W1, is active (Study Links herehere or elsewhere).
    Support & Resistance:
    • Bulls have support  at the weekly 50 SMA (8333) #W1, and at 8121 #W1.
    • Resistance continues to be at the Month Channel's blue middle line #M1 and R1 of the Month Pivot #M1.
    Moving Averages: 
    • The Death Cross is active as long as the 50 SMA stays below the 200 SMA - gap between these MAs, is currently flat #D1.
    Indicators:
    • Bulls hope that the TRD would take off upwards, after settling above the 50% mark last month #M2.


    Wrap :
    Bulls look to get back above the Wall (click) for July 2015 (8398) and the Day Channel's mid-line #D1.
    Bears plan to use the shooting star's help, to get the index below 8121.



    China SSEC - Ichimoku Study - Kijun Sen Resistance - Week 3 of July 2015.







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


    Learning from the Earlier Study: (This is a new study)


    Chikou Span drops with the Price line #W1.
    After slipping below the Tenkan Sen and Kijun Sen earlier, Index goes green, in its attempt to get back above these lines #W2.

    Gap between the Senkou Span A & B  wide and steady #W3.
    Gap between the Tenkan Sen and the Kijun Sen reduces #W2.


    Wrap: 

    Bears keep Index below the Kijun Sen #W2. 

    Bulls make a come back with a green week, but fail to get to the Kijun Sen #W2.


    Looking Forward into this Week:



    Bears need to get the Chikou Span below the Price line, to maintain advantage #W1.
    Index closing below the Kijun Sen, a strong resistance, good for Bears #W2.

    Gap between the Senkou Span A & B is wide, making a thick Kumo - and a strong support for the Bulls in the weeks to come #W3.
    Gap between the Tenkan Sen and the Kijun Sen reduces -  bullish deflection or bearish cross imminent #W2.



    Wrap:

    Getting back above the Tenkan Sen and Kijun Sen #W2, priority for Bulls.
    Bearish cross of the Tenkan Sen and Kijun Sen #W2 is the next Bear ask.