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Monday, February 1, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Pin bar boost - Week 1 of February 2016.










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


Patterns:.
  • Bulls get a boost up with the Green Pin Bar of the previous week, last three candles on the Week Screen make a 'Three inside up' #W1.
  • Bears close January with an 'Opening Black Marubozu' #M1.
Support & Resistance:
  • Index was resisted by the 5 EMA on the Week Screen #W1. Support was at the '23.6% Fibonacci retrace from the ATH to the 2011 (orange) low' #W1.
Moving Averages:  
    • The 5 EMA on the Day Screen is crossed bullishly above the 13 SMA #D1. 
    Indicators:
    • RSI 13, is at divergence to the price  #W2.  


    Wrap:
    Bulls follow up the Green pin bar, with a 'Three Inside up' #W1.
    Bears, after a lower low, dig in with a long term 'Opening Black Marubozu' #M1.




    Looking forward into this Week:

    Patterns:
    • 'Opening Black Marubozu' (Study Links herehere or elsewhere) is active on the Long Term Chart #M1.
    • 'Three Inside up' pattern (Study Links herehere or elsewhere) is active on the Medium Term Chart #W1.
    Support & Resistance: 
    • '23.6% Fibonacci retrace from the ATH to the 2011 (orange) low' #W1, is the next major support. The 200 SMA on the Day Charts is  likely resistance #D1,
    Moving Averages:
    • The 5 EMA on the Monthly Screen will cross bullishly above the 13 SMA, only if the index closes above 2145 this month #M1.
    Indicators:
    • TSI on the Month Screen. descends from the 50% to the 38.2% Fibonacci retrace #M2.


    Wrap:

    Bulls above the 
    '23.6% Fibonacci retrace from the ATH to the March 201low', seek more green with help from the '
    Three Inside up#W1.
    Bears look to enforce the down trend with the 'Opening Black Marubozu' #M1.

    India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Morning Star ! - Week 1 of February 2016.











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

    Patterns:
    • Long legged Doji, which gapped down the previous week, produces a 'Morning Star' as studied last week #W1.
    • January candle resembles an 'Opening Black Marubozu' #M1.
    Support & Resistance:
    • Index was resisted by the Weekly 5 EMA #W1. Index had support at the 'Fibonacci 61.8% retrace of the 2010 low to the ATH' #W1.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA, are crossed Bullishly on the Day Screen #D1.
    Indicators:
    • On the week charts the STS #W1, is still deep in the over sold zone.

    Wrap:

    Bulls pull up to the weekly 5 EMA (7576) and trigger a 'Morning Star' #W1.
    Bears hold the index at the Day channel's mid point #D1 and below the 7606 mark.




    Looking Forward into this Week:

    Patterns:
    • A Morning Star Pattern (Study Links herehere or elsewhere) is active on the Medium Term charts #W1.
    • 'Opening Black Marubozu' (Study Links herehere or elsewhere) is active on the Long Term charts #M1.
    Support & Resistance:
    • Index has resistance at the Weekly channel bottom #W1. Support is at the Daily 5 EMA #D1.
    Moving Averages: 
    • The Death Cross (50 and 200 SMA) has been active for the past 6 months #D1.
    Indicators:
    • The MACD moves above its MA, histogram ticks above the zero line #D2.


    Wrap :
    Bulls hope that the pullback to Week Channel Bottom continues, with help from the 'Morning Star Pattern' #W1.
    Bears aim for the day channel bottom, assisted by the 'Opening Black Marubozu' on the month screen #M1.


    Brent Crude Oil - Ichimoku Study - Tenkan Sen Touch - Week 1 of February 2016.





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


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

    Bulls race to Touch the Tenkan Sen with two green candles  #W2.

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

    Wrap: 

    Index at the Tenkan Sen, Bears put up a precise defense #W2.




    Looking Forward into this Week:


    Chikou Span has make it half way, from the bottom to the price line  #W2.

    Senkou Span A & B, crossing or deflecting helps the Bull or Bear Causes respectively #W3.
    Defending the Tenkan Sen, as they have, in the past three months is the bear plan #W2.


    Wrap:

    Bears look to again defend the Tenkan Sen, and get some red on the screen #W2.
    Breaking the 14 week stay below the Tenkan Sen #W2, with a breakout - is the Bull plan.