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Monday, December 21, 2015

US - S&P 500 - Triple Screen 'Technical Analysis' - Cup and Handle?! - Week 4 of December 2015.









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


Patterns:
.
  • The combination of the Big 'W' and the new Day Channel #D1, make a neat 'Cup and handle' pattern.
Support & Resistance:
  • Index again took support at the Channel bottom of the Day Chart #D1 - it faced resistance at the daily 34 MVWAP #D1.
Moving Averages:  
    • The 5 EMA and 13 SMA, on the Weekly Screen poised to cross bearishly, with index below 2087 #W1.
    Indicators:
    • RSI 13, now back to the 50s  #W2.  


    Wrap:
    Bears ensure the index does lower highs #D1.
    Bulls keep index in the 'Handle' of the 'Cup and Handle' pattern #D1.




    Looking forward into this Week:

    Patterns:
    • The 'W' pattern on the Day Chart is still in play (Study Links herehere or elsewhere) #D1.
    • A 'Cup and Handle' pattern is active on the charts #D1, #W1 & #M1 (Study Links herehere or elsewhere) so long as a Handle is viable on any relevant time frame.
    Support & Resistance: 
    • Day Channel bottom (pink) #D1 is support.  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 perks up from the over bought line #D2.


    Wrap:

    Bulls hope for rewards from the big 'W' pattern #D1, with a breakout from the ATH #M1.

    Bears push for a breakdown at the handle or the Day Channel #D1..


    India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bull Piercing - Week 4 of December 2015.









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

    Patterns:
    • The previous week the index hit support at the medium term Channel bottom, last week saw the Bulls celebrate with a green piercing candle #W1.
    Support & Resistance:
    • Index found support around the previous week's low, with resistance at the 5 EMA Weekly #W1.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA, cross Bullishly on the Day Chart #D1.
    Indicators:
    • On the week charts the STS #W1, continues to dwell in the over sold zone.

    Wrap:

    Bulls take support at the Week Channel's bottom and pierce their way back into the Channel #W1.
    Bears defend the Weekly 5 EMA #W1.





    Looking Forward into this Week:

    Patterns:
    • Piercing Pattern (Study Links herehere or elsewhereis active on the Medium Term Chart #W1.
    • Shooting Star, is active (Study Links herehere or elsewhere) on the Long Term Screen #M1 for December.
    Support & Resistance:
    • Index has immediate support at the S2 of the Month Pivot #M1. Resistance is at the weekly 50 SMA #W1.
    Moving Averages: 
    Indicators:
    • The STS is in the oversold, a concern for the Bulls #W2.


    Wrap :
    Bears want a weekly close, below the Week Channel bottom (green) line #W1.
    Using the piercing pattern, Bulls aim for the weekly 50 SMA #W1.

    China - SSEC - Ichimoku Study - Kumo Resists - Week 4 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 takes support at the Tenkan Sen, with the Kumo giving precise resistance #W2.

    Chikou Span points to the price line #W1.
    Senkou Span A & B, are crossed Bearishly and diverge #W3.

    Wrap: 

    Index steadies with support around the Tenkan Sen #W2.
    Bear send back the index at the 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) #W3.

    Bears intend to keep the index out of the Kumo #W2,.
    Bulls continue to need the Tenkan Sen support #W2.

     
    Wrap:
    Bears push for a continuation of the down trend, with resistance at the Kumo #W2.
    Bulls seek life in the Kumo with support at the Tenkan Sen W2 .



    Brent Crude Oil - Ichimoku Study - Lower Lows 2 - Week 4 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)

    Bears force an even lower low after the index tests the previous low #W2.

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

    Wrap: 

    Bears take the index sharply lower after the retest, Index makes a lower low #W2. 




    Looking Forward into this Week:


    Bears make an even lower low  #W2.

    Gap between the Senkou Span A & B is wide at #W3 & above the last Price point, making a thick Kumo - and a strong resistance to an up-move, when we get there #W3.
    Senoku Span A & B, headed for a cross or deflection with these lines getting closer #W1.


    Wrap:

    Bears look to keep the index below the Tenkan Sen, and make some more lower lows #W2.
    A bullish cross of the Senoku Span A & B #W3, is the next Bull hope.



    Say....