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Monday, February 22, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Double Bottom Rewards - Week 4 of February 2016.











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


Patterns:.

  • Bulls after making a double bottom #D1, the previous week take the index to the Week Channel Bottom, with a long green Marubozu #W1.
Support & Resistance:
  • Index was resisted around the MVWAP 34. Support came near 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 on the Day Screen #D1.
    Indicators:
    • RSI 13, at divergence to the price, is almost at the over sold  #W2.  


    Wrap:
    Index closes stronger, above support, after bouncing off a double bottom #D1.




    Looking forward into this Week:

    Patterns:
    • 'Opening Black Marubozu' (Study Links herehere or elsewhere) is active on the Long Term Chart #M1.
    • 'Double Bottom' Chart pattern (Study Links herehere or elsewhere) is active on the Day Screen #D1.
    Support & Resistance: 
    • '23.6% Fibonacci retrace from the ATH to the 2011 (orange) low' #M1, is the immediate support. The 13 SMA on the Week Charts is  immediate resistance #W1,
    Moving Averages:
    • Death Cross (50 & 200 SMA), is on the Day Screen #D1.
    Indicators:
    • TSI on the Month Screen. descends from the 50% towards the 38.2% Fibonacci retrace #M2.


    Wrap:

    Bulls above support,
     after bouncing off the double bottom, look to invade the Week channel
     #W1.

    Bears look to re-enforce the down trend, using he resistance at the Week Channel and with help from January's'Opening Black Marubozu' #M1.

    India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Harami - Week 4 of February 2016.









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

    Patterns:
    • The Index takes off from the Day Channel Bottom #D1, after the fast fall, and makes a Bullish Harami on the Weekly Screen #W1..
    Support & Resistance:
    • Index took off from support at the S2 of the Month Pivot  #M1 and was resisted at the S1 of the Month Pivot #M1 and the daily 13 SMA #D1,
    Moving Averages: 
    • The critical 5 EMA and 13 SMA, are crossed Bearishly on all screens.
    Indicators:
    • On the week charts the STS #W1, remains in the over sold zone.

    Wrap:

    Support at the the Day Channel Bottom #D1, gives the Bulls a Harami #W1. Bears defend the daily 13 SMA #D1.




    Looking Forward into this Week:

    Patterns:
    • 'Opening Black Marubozu' (Study Links herehere or elsewhere) is active on the Long Term chart #M1.
    •  'Bullish Harami' (Study Links herehere or elsewhere) is active on the Medium Term Chart,  if it mutates into a 'Three inside up', Bulls celebrate #W1.
    Support & Resistance:
    • Bulls need to clear the resistance at the Weekly channel bottom #W1. The support at the 'Fibonacci 50% retrace of the 2011 low to the ATH (6828)'  is what the Bears need to crack #W1.
    Moving Averages: 
    • The Death Cross (50 and 200 SMA) has been active for the past 6+ months #D1.
    Indicators:
    • The TRD closing above the 38.6% Fibo for the month, helps the Bulls #M2.


    Wrap :
    Bulls hope that the pullback to Week Channel Bottom happens, with a 'Three Inside Up' #W1, #M1.
    Bears aim the day channel bottom #D1, and life below 6828.


    Brent Crude Oil - Ichimoku Study - Deuce - Week 4 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 and Bears go deuce as the Price closes exactly on the Tenkan Sen #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, Deuce #W2.




    Looking Forward into this Week:


    Chikou Span starts towards the price line  #W2.

    Above the Tenkan Sen, the bulls get some life #W3.
    Defending the Tenkan Sen, as they have, in the past few months, keeps the Bears dominant #W2.


    Wrap:

    Bears look to move below the Tenkan Sen, and get more red on the screen #W2.
    Breaking the 17 week stay below the Tenkan Sen #W2, with a Deuce - Bulls look up.


    Say....