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Monday, January 11, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - 3 inside down - Week 2 of January 2016.










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


Patterns:.
  • 'Three inside down' pattern forms on the Weekly charts #W1.
Support & Resistance:
  • Index was resisted by the MVWAP34 on the Medium Term Screen #W1. Support was at the MVWAP34 on the Long Term Screen #M1.
Moving Averages:  
    • The 5 EMA on the Month Screen deflects bearishly below the 13 SMA #M1. 
    Indicators:
    • RSI 13, in the 40s  #W2.  


    Wrap:
    Bears after holding the index to a lower high, crack through the previous Day Channel Bottom #D1.
    Bulls keep index just above the long term MVWAP34 #M1.




    Looking forward into this Week:

    Patterns:
    • 'Three inside down' pattern (Study Links herehere or elsewhere) is active on the Medium Term Chart #W1.
    Support & Resistance: 
    • Day Channel bottom (pink) #D1 is likely support.  Previous high (2080) is resistance #D1,
    Moving Averages:
    • The 5 EMA on the Monthly Screen will cross bullishly above the 13 SMA, if the index closes above 2070 this month #M1.
    Indicators:
    • STS dives to the oversold #D2.


    Wrap:

    Bulls hope the support at the MVWAP34 #M1, shows them some green.

    Bears push to get some rewards of the 'Three inside down' pattern.


    Brent Crude Oil - Ichimoku Study - Fold - Week 2 of January 2016.






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


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

    Bulls fold after a month of consolidation bears make a lower low #W2.

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

    Wrap: 

    After a pause Index makes a lower low.



    Looking Forward into this Week:


    Chikou Span is a long way from the price line  #W2.

    Senkou Span A & B  crossing or deflecting helps the Bull or Bear Causes respectively #W3.
    Tenkan Sen and Kijun Sen, making a cross or deflection is the next event on the horizon #W2.


    Wrap:

    Bears look to keep the index below the Tenkan Sen, and make some lower lows #W2.
    An oversold bounce or a bullish cross of the Tenkan Sen and Kijun Sen #W2, is the next Bull hope.


    India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Channel Bottom again - Week 2 of January 2016.













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

    Patterns:
    • Bears hold below the Monthly 5 EMA and revisit the Weekly Channel bottom with a long red candle #W1.
    • Bears take down the index with the 'Three White Soilders' pattern #W1.
    Support & Resistance:
    • Index found support near the 76.4% retrace of the 2008 low to the ATH #M1., resistance was at the monthly 5 EMA #M1.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA, deflect bearishly on the Week Chart #W1.
    Indicators:
    • On the week charts the STS #W1, is still above the over sold zone.

    Wrap:

    Bulls fail to sustain above the daily 50 SMA #D1.
    Bears defend the Monthly 5 EMA #M1, and crash the index to the Weekly Channel Bottom #W1...again.





    Looking Forward into this Week:

    Patterns:
    • 'Three White Soilders' pattern (Study Links herehere or elsewhere) is active on the Medium Term Chart #W1.
    • The Long Term Chart's focus moves to the Long Legged Doji (Study Links herehere or elsewhere) and its implications #M1.
    Support & Resistance:
    • Index has immediate support at 7494 the 76.4% retrace of the 2008 low to the ATH #M1. Resistance is at 8040 (the 76.4% retrace of the 2011 low to the ATH#W1.
    Moving Averages: 
    Indicators:
    • The MACD slips below the zero #D2.


    Wrap :
    Bulls aim to stall the fall with a Higher Low #W1.
    Bears hope to break below 7494.