Tuesday, December 27, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Resumption? - Week 4 of December 2016.


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

The Index again stops at the Middle Tyne of the Daily Fork for consolidation #Dailychart.

Support & Resistance:
Support was around the daily 13 MA and Resistance was at the middle Tyne of the Day fork #Dailychart.

Moving Averages:
The critical EMA5, is bullishly above the MA13, on all three charts above.

The RSI near the oversold #WeekChart. 

Index consolidates another week at the Day fork #Dailychart.

Looking forward into this Week:


Shooting Star (Google 'Shooting Star candlestick') on the Medium Term Screen indicates possible reversal #WeeklyChart.

Support & Resistance:
Middle Tyne of the Week Fork, is now support and the Top Tyne of the Month Fork is again resistance.

Moving Averages:
13 MA on the Day chart, is the mark, that the  Bear want to get below, this week #DailyChart.

STS stays in the over sold #DayChart.

Bears want to use the weekly Shooting Star and the mid fork resistance on the Daily Chart, for a reversal #Dailychart. 
Bulls look to touch the Long term Channel top and a make a new ATH (2292) #MonthChart.

CAC 40 - Ichimoku Weekly Study - Pause - Week 4 of December 2016.

Zoom into chart .. Click

Introduction / Primer to Ichimoku can be read at this link (click).

Learning from the Earlier Study: (click here for the previous post)

Kumo Breakout continues to reward Bulls, but in moderation.
All signals are currently Bullish.
Chikou Span flattens (extreme left) 

Kumo Breakout gives the Bulls more green - pace moderates.

Looking Forward into this Week:

Bears want to get the Chikou Span headed back towards the Kumo (extreme left).
Longs having achieved a higher high (weekly close) now look to keep the momentum going.
Bears look to get back to the resistance levels (Weekly and Monthly).

Bears seek to point the index towards the Tenkan Sen (Weekly resistance).
Bulls look for more green after the massive Kumo Breakout followed by a pause.