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Monday, August 29, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Evening Star? - Week 1 of September 2016.



 

 




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

Patterns:

'High Wave' candle of the previous week gives the Bears another red week #WeekChart1.

Support & Resistance:
 
Middle Tyne of the Fork on the Weekly chart was the support #WeekChart1. Middle Tyne of the Fork on the Daily chart was resistance by weekend #DayChart1.

Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all except the Day Chart
#DayChart1.

Indicators:
The STS slips from the oversold #
DayChart2.

Wrap:

Index, indecisive after a High Wave candle, goes red. Bulls hold our Support line #WeekChart1. 





Looking forward into this Week:

Patterns: 

After 5 Months with Green Candles, and 3 days to month close, Bulls would want to remove the red on the August candle, 'Evening Star' Pattern (Study Links here, here or elsewhere) however can appear by then #MonthChart1. 

Support & Resistance:
Middle Tyne of the Fork on the Weekly chart is support #WeekChart1. Middle Tyne of the Fork on the Daily chart is resistance #DayChart1.
 
Moving Averages:
The 5 EMA on the Week screen falls at 2172 a level the bulls need to get to and remain above
#WeekChart1.
 
Indicators:
TSI near resistance at the 74% Fibonacci mark #MonthC
hart2.

Wrap:
Bulls, want to prevent red on this Month's Candle. Bears hope, that either way they get an 'Evening Star' going #MonthChart1.




India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Wall Fall - Week 1 of September 2016.







 



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


Patterns: 

Index vacillated around the Wall (8666) all month and crashed below it last week, the settlement week  #WeekChart1.

Support & Resistance:
Index gets support, well above the 50 SMA
#DayChart1. August Wall (link) i.e. 8666 was the Resistance later in the week. 

Moving Averages:
The critical EMA 5, is bearishly below the MA 13, only onl the day screen
#DayChart1.

Indicators:
The STC nudges above the 76% Fibonacci retrace #
MonthChart2.


Wrap: 
Bears win the fight for control of 8666. Bulls stop fall well above the 50 SMA #DayChart1.




Looking forward into this Week:


Patterns:

Red Candle on the Month Chart after 6 months? 'Evening Star' Pattern (Study Links here, here or elsewhere) in the making? #MonthChart1. 

Support & Resistance: 
Bottom Tyne of the Fork on the Day chart is the resistance to beat #DayChart1. The 50 SMA #DayChart1, is support.
 
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen
#DayChart1.
 
Indicators:
The MACD and the histogram are now ticking below zero #Day
chart2.
 

Wrap:
Bulls, want to prevent red on
this Month's Candle(edited)
#MonthChart1. Bears aim for life below the 50 SMA #DayChart1.