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Monday, August 8, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Hang Man - Week 2 of August 2016.







 



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


Patterns:
Index makes a
'Hanging Man' candle last week #WeekChart1.

Support & Resistance:
Day Fork's middle Tyne was Support #DayChart1. The Index made a new All Time High (ATH) #MonthChart1.

Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all the above screens.

Indicators:
The STS is in the oversold #
DayChart2.

Wrap:

Bulls take off above the fork center and make a new ATH, while the Bears force a 'Hanging Man' candle last week #WeekChart1.



Looking forward into this Week:

Patterns: 

'Three White Soilders' Pattern (Study Links here, here or elsewhere) is active on the Medium Term Chart #WeekChart1.
'Hanging Man' candle's effect  (Study Links here, here or elsewhere) is active on the Medium Term Chart #WeekChart1.

Support & Resistance:
Upper Tyne of the Fork on the Day chart is the resistance to beat #
DayChart1. Middle Tyne of the Fork on the Weekly chart is the first support #WeekChart1.
 
Moving Averages:
The 5 EMA on the Week screen falls at 2161 a level the bulls need to defend
#WeekChart1.
 
Indicators:
TSI clears resistance at the 61.8% mark #MonthC
hart2.

Wrap:
Bulls, look at making a new and higher ATH
#WeekChart1. Bears hope the 'Hanging Man' candle gets them some red #WeekChart1.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - 3 Outside Up - Week 2 of August 2016.





 
 



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


Patterns: 

Bulls get the '3 Outside up' #WeekChart1, and make it back above our weekly support. 8666.

Support & Resistance:
Weekly 5 EMA was the support,
resistance was felt at the previous top (around 8700) #DayChart1.  

Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all the above screens.

Indicators:
The STC legs up to the 76% Fibonacci retrace #
MonthChart2.

Wrap:
Bulls climb higher with a
'3 Outside up' #WeekChart1
Bears stop the Bulls using the resistance near the recent top #DayChart1.



Looking forward into this Week:


Patterns:

'3 Outside up' Pattern (Study Links here, here or elsewhere), is active, on the Medium Term Chart #WeekChart1. Bears hope its a 'Double Top' Pattern (Link)

Support & Resistance:
Middle Tyne of the Fork on the Day chart is the resistance to beat #
DayChart1. The Wall (link) for August i.e. 8666 is the Support, that the Bulls would want to stay above.
 
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen
#DayChart1.
 
Indicators:
The MACD is below its MA and the histogram is ticking below zero - good for bears #Day
chart2.

Wrap:
Bulls, look to the 'Three Outside Up' to get to a new ATH
#WeekChart1. Bears seek life below the Wall (8666).