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Monday, October 24, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Bulls Fight - Week 4 of October 2016.











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

Patterns:
Index manages to get back into the Day Fork after falling off #Daychart1, making an inside week in the process #Weekchart1, and closing above our mark 2141.

Support & Resistance:
Resistance was again at the daily 13MA #DayChart1. Support near the bottom Tyne of the Day Fork #Daychart1.

Moving Averages:
The critical EMA 5, is bullishly above the MA 13, only on the Month Chart (landing 1909 for Oct'16) #Monthchart1.

Indicators:
The RSI is near the center of the range #WeekChart2.



Wrap:
Bulls hold the Action above the bottom Tyne of the Day Fork #DayChart and make a green week.






Looking forward into this Week:

Patterns:
'Evening Star' Pattern (Study Links here, here or elsewhere) is active on the Long term charts #MonthChart1.

Support & Resistance:
Bottom Tyne of the Day Fork is support #DayChart1. Middle Tyne of the Fork on the Week chart is resistance #WeekChart1.

Moving Averages:
5 EMA on the Month chart i,e, 2141, is the mark, that the  Bulls want to stay above, this month #MonthChart1.

Indicators:
TSI returns from resistance at the 74% Fibonacci mark #MonthChart2.


Wrap:
Bulls after allowing an Evening Star #MonthChart1, get a save, closing above 2141.
Bears want to keep below the middle Tyne of the Week Fork, and aim for life below 2116.


 





India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Neckline Hold - Week 4 of October 2016.











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

Patterns:

Index closes the week above the neckline of a 'Head and Shoulder' Pattern #DaiyChart1 Link (Click)

Support & Resistance:

New Day Fork's middle Tyne and 50MA were resistances #DayChart1 
Index gets support at the H&S neckline and Day Fork's bottom Tyne #DayChart1.

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

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


Wrap: 
Bears defend the Daily 50MA, Bulls keep above the neckline of the H&S pattern #DayChart1.



  

Looking forward into this Week:


Patterns:

Head & Shoulder pattern is active on the Day chart (Study links herehere or elsewhere) Bears pray the Index crashes below the Day Fork #DayChart1.

Support & Resistance: 
Middle Tyne of the Fork on the Day chart is the first resistance #DayChart1. Neckline of the Head & Shoulder Pattern or  Day Fork's Bottom Tyne are the first Supports (Link).

Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen 
#DayChart1.

Indicators:
The MACD is above its MA and its histogram is above zero #Day
Chart2.


Wrap:
Bears look to break below the H&S neckline, while keeping below the Daily 50MA  #DayChart1.
Bulls want to break the current down trend, by closing above 8808 #DayChart1.




Say..