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Monday, September 26, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Pullback and 2171 - Week 5 of September 2016.







 




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

Patterns:

Week and Day Screens continue with Pullback to Resistance - index closes at resistance point #WeekChart1 & #DayChart1.
 
Support & Resistance:
 
Resistance was 9 pips above our mark 2171 and Support at the previous week's close #WeekChart1.

Moving Averages:
The critical EMA 5, is bearishly below the MA 13, only on the Week Chart
#WeekChart1.

Indicators:
The RSI is in the oversold #Week
Chart2.

Wrap:

Index completes Pullback #DayChart1 & #WeekChart1. Month remains red #MonthChart.




Looking forward into this Week:

Patterns: 

'Evening Star' Pattern (Study Links here, here or elsewhere) can stay active, if the September close is below 2171 #MonthChart1. 
Pullback to resistance in progress on two charts above (Study Links here, here or elsewhere) #WeekChart1 & #DayChart1.

Support & Resistance:
MA200 on the Day chart is the support Bears want to get to #DayChart1. Top Tyne of the Fork on the Month chart is resistance Bulls aim for #MonthChart1.
 
Moving Averages:
The E
MA 5, on the Long Term Chart is at 2128 for the month - a mark the Bulls want to defend #MonthChart1.
 
Indicators:
TSI returns from resistance at the 74% Fibonacci mark #MonthC
hart2.


Wrap:
 
Bulls Pullback seeking a close above 2171. Bears want to complete the pullback and continue down #WeekChart1 & #DayChart1. 




 

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Fork Holds, Islands Fill - Week 5 of September 2016.






 



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


Patterns: 

Day Fork holds the index up, even as Islands form and fill in the gaps, neutralizing each other #DayChart1.

Support & Resistance:
Index again takes support
#DayChart1, exactly at the Bottom Tyne of the Day Fork #DayChart1. Resistance was again near the top Island #DayChart1.

Moving Averages:
The critical EMA 5, poised to cross bullishly or deflect bearishly wit the MA 13 #DayChart1
.

Indicators:
The STC stays, well above the 76% Fibonacci retrace #
MonthChart2.


Wrap: 
Index vacillates between two major island reversals, Bulls find support at the Fork #DayChart1.




 

Looking forward into this Week:


Patterns:

Index maintains green candles for the past 6 months. Bulls on Lucky 7? #MonthChart1.

Support & Resistance: 
Bottom Tyne of the Fork on the Day chart is the first support #DayChart1, Weekly 13 SMA (8680) is fall-back support. The ATH (9119) is the next resistance.
 
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen
#DayChart1.
 
Indicators:
The MACD and its MA touch, for a bearish cross or a bullish deflection #Day
Chart2.
 

Wrap:
Bulls, well in the Day fork and on the 7th straight Green Month
#MonthChart1. Bears look for change, a break below the Day fork and life below 8804 #DayChart1.