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Monday, March 14, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Pin Bar Rewards - Week 3 of March 2016.









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


Patterns:.

  • Bulls get rewards from the February Pin Bar #M1. Index moves up smartly to the Daily 222 SMA #D1. 
Support & Resistance:
  • Index was resisted around the 222 SMA  on the Daily Screen #D1. Support came in at the 13 SMA on the Day Screen #D1.
Moving Averages:  
    • The critical 5 EMA, is crossed bullishly above the 13 SMA, on the Day and Week Screens #D1.
    Indicators:
    • STS is in the over sold zone #D1.


    Wrap:
    Bulls use the Pin Bar on the Month Screen to good effect, Bears defend 222 SMA #D1.




    Looking forward into this Week:

    Patterns:
    • Pin Bar Candle's effect (Study Links herehere or elsewhere) is active on the Month Screen #M1.
    Support & Resistance: 
    • MVWAP34 #D1, is the immediate support. The 222 SMA on the Day Charts is the resistance, that Bulls need to clear next #D1,
    Moving Averages:
    • Death Cross (55 & 222 SMA), is on the Day Screen.
    Indicators:
    • RSI 13 staying above the 50% mark, is important for the Bull up move #W2.


    Wrap:

    Bulls on a roll, 
    after Pin Bar, now consider the 222 SMA, in their path to making a higher high 
    #D1.
    Bears aim to keep the index below the 222 SMA #D1, then break below the day Channel #D1 and keep the down trend intact.


    India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Pullback Progresses - Week 3 March 2016.













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

    Patterns:
    • Bulls take a break with a small green candle #W1, whose body gaps above previous weeks candle.
    Support & Resistance:
    • The Daily 5 EMA, was support all week and the Monthly 5 EMA  #M1, was resistance last week.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA, poised to cross or deflect on the  Week Screen #W1.
    Indicators:
    • On the week charts the STS #W1, climbs above the over sold zone.

    Wrap:

    index ranges between the Monthly and Daily 5 EMA. Pull Back half way done #W1..



    Looking Forward into this Week:

    Patterns:
    • 'Opening Black Marubozu' (Study Links herehere or elsewhere) is active on the Long Term chart #M1.
    Support & Resistance:
    • Bulls seek to clear the resistance at 8040, the 'Fibonacci 76.4% retrace of the 2010 low to the ATH)' #W1. 
    • The weekly 5 EMA, 7374 is the support that the bears would want to crack #W1.
    Moving Averages: 
    • The Death Cross (50 and 200 SMA) has been active for the past 6+ months #D1.
    Indicators:
    • The TRD staying above the 38.6% Fibo, for the month, helps the Bulls #M2.


    Wrap :
    Bulls hope the Pullback from the Weekly 200 SMA, to the Week Channel Bottom #W1, continues.
    Bears Hope to persist below the Monthly 5 EMA 7578 #M1.

    Brent Crude Oil - Ichimoku Study - Kijun Sen Stop - Week 3 of March 2016.





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


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

    Bears defend the Kijun Sen #W2.

    Gap between the Senkou Span A & B,reduces #W3.
    Gap between Tenkan Sen and Kijun Sen, reduces #W2.
    Chikou Span approaches the Price line #W1


    Wrap:
    After reaching the Kijun Sen the index retreats #W2.



    Looking Forward into this Week:


    Chikou Span approaching the price line, great for Bulls  #W1.

    Staying above the Tenkan Sen, Bulls keep hopes up #W2.
    Bears need to keep the index below the Kijun Sen #W2.


    Wrap:

    Bears look to defend the Kijun Sen #W2.
    Bull would fire the index at the Kijun Sen #W2, and the Chikou Span at the Price line #W1.