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Monday, November 9, 2015

US - S&P 500 - Triple Screen 'Technical Analysis' - Make or Break Zone. -Week 2 of November 2015.











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


Patterns:
  • Index noses into the (orange) Week Channel #W1. At this Make or Break zone - an Opening white Marubozu Candle, forms last week #W1.
Support & Resistance:
  • Index took support at the 5 EMA on the Day Chart #D1 - it returned near its resistance at the (All Time High) ATH #M1.
Moving Averages:  
    • The 5 EMA and 13 SMA, on all the Month Screen is crossed Bearishly - and will stay that way until index closes above 2112 #M1.
    Indicators:
    • RSI 13, after lift off, from the oversold line, back to hanging around the 50% mark  #W2.  


    Wrap:
    Bulls nose into the Week Channel #W1.
    Bears turn the index back to the Week Channel's Bottom (orange line) #W1.




    Looking forward into this Week:

    Patterns:
    • Opening white Marubozu candle is active on the Medium Term Screen (Study Links herehere or elsewhere) #W1.
    • The 'W' pattern on the Day Chart is active (Study Links herehere or elsewhere) #D1
    Support & Resistance: 
    • 200 SMA on the day chart, is the support that Bulls want to stay above. Index has resistance at the (All Time High) ATH #M1.
    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 staying in the oversold, keeps pressure on the Bears #W2.


    Wrap:

    Bulls now seek the rewards of the big 'W' pattern #D1, with a breakout from the ATH #M1.
    Bears look to force the index below the 200 SMA #D1.


    Europe - CAC 40 - Ichimoku Study - Breakout, Throwback and Take-off - Week 2 of November 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 throwback to the Kumo after breakout, shoots up making a long green candle #W2.
    Chikou Span again hesitates at the Price line #W1. 
    Senoku Span A & B, veer away from each other as in a deflection #W3.


    Wrap: 

    Bulls have a tall green week, post break out of the Kumo #W2.
    Chikou Span continues being resisted near the Price line - some solace for Bears #W2.


    Looking Forward into this Week:


    Chikou Span returning from the Price line, is the current Bear hope #W1.
    Index is now on a Bullish Breakout, just above the Kumo  #W2.
    Cross of the Senoku Span A & B is the next event, that the Bears hope for #W3.


    Wrap:

    Bears hope the Chikou Span turns back at the Price line #W1, to help the move back into the Kumo #W2.
    Bulls aim for a proper deflection of the Senoku Span A & B and life above the Kumo #W2.


    India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Middle Muddle - Week 2 of November 2015.











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

    Patterns:
    • Bears makes a clean trip from Day Channel's Top to Middle Line (blue), but fail to take out our mark 7919.
    Support & Resistance:
    • Last week the Bulls found support near the Day Channel's Middle line #D1Bears used the Pivot line as resistance to send the index down #M1.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA, remain crossed bullishly, on the Week charts #W1.
    Indicators:
    • On the Day chart the  MACD and its MA, along with the Histogram, move below zero #M2.

    Wrap:

    Bulls take support near our second mark 7919 and the Channel Middle #D1. 
    Bears almost complete their domination of all 3 screens.





    Looking Forward into this Week:

    Patterns:
    • Shooting Star, is active (Study Links herehere or elsewhere) on the Long Term Screen #M1.
    Support & Resistance:
    • Index has immediate support at 7900, S2 of the Monthly Pivot (7707) #M1, is the fallback
    • Immediate resistance is at 8040, the 76.4% Fibonacci retrace of the '2011 low' to the 'ATH'  #W1.
    Moving Averages: 
    • The Death Cross (50 and 200 SMA) is active, these MAs are now Bullishly Converging (needs watching) #D1.
    • The critical 5 EMA and 13 SMA, will stay crossed Bullishly, on the Week charts if this week closes above 7900 #W1.
    Indicators:
    • The TRD, peeping above the 50% retrace is the next Bull wish #M2.


    Wrap :
    Bulls look to fight back to the Day channel top, if they can stay above the middle line (blue) of the Day Channel #D1.
    Bears hunt for life below 7707 #M1, and total domination of all screens.