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Monday, November 30, 2015

US - S&P 500 - Triple Screen 'Technical Analysis' - Seeing Stars - Week 1 of December 2015.











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


Patterns:
.
  • After the long green candle of the previous week, Bulls pause with a Doji  #W1.
Support & Resistance:
  • Index took support just above the 5 EMA on the Weekly Chart #W1 - it again failed to pierce the week Channel's bottom (orange) #W1.
Moving Averages:  
    • The 5 EMA and 13 SMA, on Monthly Screen look ready to cross bullishly, once the December candle is up - at current levels #M1.
    Indicators:
    • RSI 13, spikes above the 60% mark  #W2.  


    Wrap:
    Bears keep the index below the Week Channel bottom (orange) #W1.
    Undecided Bulls produce a doji #W1.




    Looking forward into this Week:

    Patterns:
    • The 'W' pattern on the Day Chart is still active (Study Links herehere or elsewhere) #D1.
    • The Doji on the Medium Term screen can trigger an Evening Doji Star (Study Links herehere or elsewhere) #W1. 
    Support & Resistance: 
    • 200 SMA on the day chart, is now the Index support, that Bears want to get below. Index Resistance is the Week Channel's Bottom line (orange) #W1,
    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 back to the oversold #W2.


    Wrap:

    Bulls continue to See rewards in the big 'W' pattern #D1, with a breakout from the ATH #M1.

    Bears want to use the resistance at the Week Channel bottom (orange) #W1 to produce an Evening Doji Star #D1.



    Europe - CAC 40 - Ichimoku Study - Kumo zone - Week 1 of December 2015.






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


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

    Bulls stay above of the Kumo, Chikou Span stays below the Price line #W1. 
    Index again takes support near the Kijun Sen #W2, to make this up move.
    Senoku Span A & B, steady #W3.

    Wrap: 
    Bulls have another green week even as Index stays above the Kumo #W2.
    Bears keep the Chikou Span, below the Price line #W1.


    Looking Forward into this Week:


    Chikou Span crossing above the Price line, is the current Bull ask #W1.
    Index is now vacillating in and out of the Kumo, Bulls now have support at the Senoku Span A (4848)  #W2.
    Cross of the Senoku Span A & B is the next event, that the Bears hope for #W3.

    Wrap:

    Bears look to get the index back in the Kumo and below the Kijun Sen #W2.
    Bulls seek stay above the Kumo and get the Chikou Span to clear the Price line #W2.


    India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Star Verdict - Week 1 of December 2015.












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

    Patterns:
    • Bulls take off from the Middle line of the Day Channel #D1.
    • Engulfing action on the medium term chart tuns into a 'Three Outside Up' as studied last week #W1.
    Support & Resistance:
    • Last week the Bulls again found support at the Day channel middle #D1Bears halt the index at the Weekly 13 EMA #W1.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA, cross over Bullishly on the Day Chart #D1.
    Indicators:
    • On the Day chart the  MACD and its MA cross bullishly, staying below zero, Histogram ticks plus #M2.

    Wrap:

    Bulls take support near at the Day Channel middle line #D1. 
    Bears lose ground, but defend the weekly 13 SMA #W1.





    Looking Forward into this Week:

    Patterns:
    • Shooting Star, is active (Study Links herehere or elsewhere) on the Long Term Screen #M1 for December, only if November (on Monday) closes below the October Open (i.e. 7992)
    • 'Three Outside Up' (Study Links herehere or elsewhere) is active on the Medium Term Charts, track its targets, based on the verdict of the above #W1.
    Support & Resistance:
    • Index has immediate support at the S2 of the Month Pivot. Resistance is at 8343 the weekly 50 SMA #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 cross Bullishly, on the Weekly charts, if index closes above 8062 this week #W1.
    Indicators:
    • The STS hovers above the oversold, its MA crossing above it, is the Bull ask #W2.


    Wrap :
    Holding below 7992. Bears plan for life below the Day Channel mid line #D1.
    Defending the Day channel mid line #D1, Bulls seek the weekly 50 SMA #W1.


    China - SSEC - Ichimoku Study - Tenkan Sen Support - Week 1 of December 2015.





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



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


    Index corrects sharply to near the Tenkan Sen, with the fall mapped on the Kumo #W2.

    Chikou Span dips below the Kijun Sen #W1.
    Senkou Span A & B, stay crossed Bearishly and rise #W3.

    Wrap: 

    Index rises and falls, inside a rising Kumo #W2.




    Looking Forward into this Week:


    Bearish Senoku Span Cross is active (
    Its called a 'Neutral' Bearish cross, because it occurred when the index was on Neutral territory i.e inside the Kumo) #W2.

    Bulls seek to keep the index inside the Kumo #W2,.
    Bulls need theTenkan Sen support, for the next rise inside the Kumo #W2.


    Wrap:
    Bears push for a resumption of the down trend, after the Senoku Span Cross #W3.
    Bulls seek life in the Kumo and a steady up-move W2 .