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Monday, June 20, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Star Fall - Week 4 of June 2016.







 



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


Patterns:
Evening Doji Star formation, splashes red on the Weekly Chart #W1. Bulls hold index at our support - Fork's bottom Tyne #D1.

Support & Resistance:
Bottom Tyne of the fork on the day screen #D1, was support and the daily 13 SMA was resistance last week.


Moving Averages:
The critical 5 EMA, is bearishly below the 13 SMA, on the day screen #D1.

Indicators:
STS is at the mid point #D2.


Wrap:
After the Bulls make a Higher High #M1, Bears get red with the Evening Doji Star #W1.




Looking forward into this Week:


Patterns:
'Evening Doji Star' (Study Links here, here or elsewhere), is active on the Week Chart #W1.

Support & Resistance:
Weekly Channel Top (orange) is the resistance to beat #W1. Last week's open (2092) is the first Support and the lower tyne of the fork is the fallback support #D1.

Moving Averages:
The 55 & 222 SMA, is a in a 'Golden Cross' on the Day Screen #D1.

Indicators:
TSI is on the 61.8% mark #M2.


Wrap:
Bulls, after making a higher high (above 2116) #M1, look to reach the ATH.
Bears seek to get the Index below 2092 #D1, and seek a lower low (below 2026).






India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Slip - Week 4 of June 2016.








 





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

Patterns:
Nifty slips out of the bottom of the Weekly Channel i.e.  the green bottom line #W1. 

Bears pray that the Pullback is over and done with #W1.

Support & Resistance:
 
Bottom of the Weekly Channel (green line #W1) was resistance. The weekly 5 EMA was support #W1.

Moving Averages:
The critical 5 EMA, is Bullishly above the 13 SMA, only on the Medium Term screen #W1.

Indicators:
The TRD #M2, is above the mid point (50% Fibonacci).


Wrap:
Index hovers just below the green Weekly Channel bottom #W1. Bulls retain control of the steep day channel #D1.




Looking Forward into this Week:

Patterns:  

After the Pullback to the Weekly Channel bottom (Study Links here, here or elsewhere), Bears manage a week below the green line, however battle for clear control of this space is still on #W1.

Support & Resistance:
Resistance is at R1 (8358) of the June Pivot #M1. The 'Fibonacci 76.4% retrace of the 2010 low to the ATH' is support (8040) #W1.

Moving Averages:
A Golden Cross (50 and 200 SMA) is active on the day chart #D1.

Indicators:
The STS staying in the over sold, is power to the Bulls #W2.


Wrap :
Bulls, seek to climb above the green line (8238) and get back into the Weekly Channel #W1.  Bears now plan life below the Day Channel  #D1.