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Monday, October 12, 2015

US - S&P 500 - Triple Screen 'Technical Analysis' - 'W' - Week 2 of October 2015.










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


Patterns:
  • Last week's action produced a green 'Hammer' candle #W1.  
  • Index showing a 'W' pattern #D1.
Support & Resistance:
  • Index took support at the 5 EMA on the Day Chart all week #D1 - it was resisted by the 13 SMA on the Weekly Charts #W1.
Moving Averages:  
    • The 5 EMA and 13 SMA, on the day screen are Crossed Bullishly #D1.
    Indicators:
    • RSI 13, after attempting a lift off, from the oversold line heads towards the 50% mark #W2.  


    Wrap:
    Bulls hammer their way to above the 2K mark.
    Bears defend the weekly 13 SMA #W1.




    Looking forward into this Week:

    Patterns:
    Support & Resistance: 
    • MVWAP 34 on the long term screen #M1 (once again) is the support that Bulls want to stay above. Index has resistance at the 200 SMA on the Day chart #D1
    Moving Averages:
    • Death Cross on the EOD, is active as long as the 50 SMA and the 200 SMA stay crossed Bearishly (Study Links herehere or elsewhere) #D1,
    Indicators:
    • STS almost a the Oversold #W2.


    Wrap:

    Bulls hammer their way to reaching the target for a 'W' pattern #D1.
    Bears want life around the MVWAP 34 #D1 and then #M1.


    Europe - CAC 40 - Ichimoku Study - Kumo Range - Week 2 of October 2015.






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


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


    Index makes a long green candle spanning the Senoku Span A and B  #W2.
    Chikou Span makes a massive bounce off support at the Kijun Sen #W1. 
    Tenkan Sen and Kijun Sen, at Senkou Span A #W2.


    Wrap: 

    Bulls use the Chikou Span support at the Kijun Sen to get a long green week #W1, #W2.
    Bears defense up, at the Senoku Span A and Tenkan Sen #W2.


    Looking Forward into this Week:



    Index getting above the Kumo with a Bullish Breakout, is the next Bull hope #W2.
    Chikou Span is crossed  below the Price line (Its called a 'Weak Bearish cross because it occurred when the index was Bullish i.e above the Kumo) and its found support at the Kijun Sen #W1.
    The Tenkan Sen and the Kijun Sen, deflecting off the Senoku Span A is the next Bull ask #W2.


    Wrap:

    Bulls have momentum inside the Kumo, with the strong up move #W2.
    Bears hope to block the way out of the Kumo, with a defense of the Tenkan Sen and Senoku Span A #W2.


    India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Marubozu - Week 2 of October 2015.










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




    Patterns:
    • High wave candle on the Long Term chart,  does the trick - Bulls break out #M1.
    • Marubozo forms on the Week Charts #W1.
    Support & Resistance:
    • The 13 SMA on the EOW was resistance while the 5 EMA was support #W1.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA, poised to cross Bullishly or deflect Bearishly on the Week charts  #W1.
    Indicators:
    • On the Day chart the  MACD breaks above the zero line #M2.

    Wrap:

    Bulls finally successful, at breaking and closing above 8040, the '76.4% Fibonacci retrace of the '2011 low' to the ATH' on the 7th attempt #W1. 
    Bears manage to defend the 13 SMA #W1.





    Looking Forward into this Week:

    Patterns:
    • High Wave Candle on the Month Chart is active (Study Links herehere or elsewhere).
    • Opening White Marubozu Candle on the Week Chart and its implications worth a study (Study Links herehere or elsewhere).
    Support & Resistance:
    • Support is now at  at 8040, the 76.4% Fibonacci retrace of the '2011 low' to the 'ATH'  #W1. Resistance at 8494.
    Moving Averages: 
    • The Death Cross (50 and 200 SMA) is active, these MAs are now steady #D1.
    • The critical 5 EMA and 13 SMA, are poised to cross Bullishly or deflect Bearishly on the Week charts  at 8494 #W1.
    Indicators:
    • The STS, crossing below its MA, is good for Bears #W2.


    Wrap :
    Bulls seek to strike upwards to 8494, with some help from the Marubozu #W1.
    Bears want a resumption of the downtrend and life below 8040 #W1.



    China - SSEC - Ichimoku Study - Bounce - Week 2 of October 2015.






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


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


    Chikou Span bounces neatly from support at the Kijun Sen #W1.

    Index stays in the Kumo #W2. 
    Senkou Span A & B cross Bearishly while Price was in the Kumo #W3.


    Wrap: 

    Despite the bearish Senkou Span cross, Index makes a green candle in the Kumo #W1.
    Bulls also use the Chikou Span Support at the Kijun Sen #W1 to move up #W2.




    Looking Forward into this Week:


    Bearish Senoku Span Cross is active (its called a Neutral Signal, as it occurs when the Price was inside the Kumo) #W2.

    Kumo gives the Index some support to consolidate #W2.
    Bulls hope for more green with a Tenkan Sen bounce off the Senoku Span A #W2.



    Wrap:
    Bears hope for a resumption of the down trend and life below the Kumo.
    Bull strategy for a comeback is to use deflections off the Kijun Sen and Senoku Span A, to 'break out' of the Kumo #W1, W2 .