EOD Technical Analysis, CNX Nifty - 18 May 2012 - Bulls Hot!

Nifty 50: Short Term View (or) Day Chart, each candle is 1 week's price action  (or) EOD Chart:  

Nifty - End of Day - 18 May 2012     

On Thursday morning we had 'Wished the Bulls the best' (click), in our post titled "...Bull's'hot.."** 

Guess our sentiments were appreciated - cause the next two Daily closes, made by the Nifty (i.e. 4870 & 4891) were higher.

On a more serious note - at today's low, the 200 DMA read 5085 and the 34 EMA read 5100, they were within 15 points of a cross - instead they choose to deflect - as of now.

One of the supports as suggested in the last study, the Fibonacci 61.8% of the 2008 low to 2010 high, was the take off point today.

The bounce from today's low, was a neat 100+ points. 

All the above read along with our previous posts on this subject - would make the contra thinking, confirmed Bulls among us, enjoy their weekend. 

**PS: 

Bulls were Hot Today...

Bull Shot Recipe for weekend use can be googled.

Have a good one...

EOW Technical Analysis, S&P 500 - 17 May 2012 - Bulls face Book..

S&P 500: Medium Term View (or) Week Chart, each candle is 1 week's price action (or) EOW Chart:  

S&P 500 - End of  Week Chart (EOW) - 17 May, 2012.

After Monday's Market Action we had changed the short term view from Neutral to Bear (click).

It was an input received just in time, to catch the big move.

Bears celebrated all the way to 1300, and are at the 'Blue Center line' of the Monthly RBG Channel.

The Weekly MVWAP 34 (blue dashed line), is the next support.

With this decent support available, the Bulls should bounce back a bit.

Let us Face it - all this liquidity sucked out of the system by one large IPO - should be back by now eh? - maybe one can book some bull action next? :)

EOD Technical Analysis, CNX Nifty - 16 May 2012 - Bull's'hot anyone?

Nifty 50: Short Term View (or) Day Chart, each candle is 1 week's price action  (or) EOD Chart:  

Nifty - End of Day - 16 May 2012     

We came into this week. noting that. the momentum across all the screens. was with the Bears (click).

After Monday's market action we added that, the US - S&P 500's short term, EOD screen, had moved from Neutral to Bear (click) - this helped us manage longs yesterday.

As seen on the EOD - the Nifty has lost ground and Bears continue to rule.

The Price is near the Blue middle line of our RBG Channel - and also the Fibonacci 61.8% of the 2008 low to 2010 high.

Our EOW study last weekend and earlier (click) showed us the possibility of a consolidation near these levels.

Bulls would hope that the fast approaching cross of the 34 EMA and the 200 DMA (& also the Golden Cross) would be deflections (i.e no cross, only touch and reverse)

All of the above makes the performance of the Bulls, for the rest of the week, critical from a long term perspective.
Here is wishing them the best .. Cheers!

EOD Technical Analysis, S&P 500 - 14 May 2012 - Bears break below Channel.

S&P 500: Short Term View (or) Day Chart where each candle is 1 day's price action (or) EOD Chart:  

S&P 500 - End of Day (EOD) - 14 May  2012  

The yellow Day Channel shown above had held on, thro' all of last week's Bear onslaught (click).

Today it gave a break on the downside as shown in the blue circle.

The MACD Histogram is also seen ticking lower.

The Positive divergence is  still apparent (yellow arrow).

Next task for Bulls is to attempt a Pull back to the white Channel.

This screen is seen as all bear (click) until the Price breaks above the 5 EMA.

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 07 May to 11 May, 2012 - Bear that Dawn..

Learnings from the Past Week:

We came into the past week with the Bears in command of the Nifty.

The Nifty continued to trend downwards, we discussed the start of the current move here (click).

Following the Bearish 'Three Inside Down' on the EOM (click) - May has made a huge red candle.

As we learned in the previous Ichimoku Cloud Analysis - the times are dark for the Longs.

Where does one go from here - what follows these dark hours for the Bull?

Nifty 50: Long Term View (or) Month Chart, each candle is 1 month's price action (or) EOM Chart:  

CNX Nifty 50 - End of Month (EOM) Chart - 11 May, 2012. 

We noted at the beginning of this month's candle, that 5199 was the mark to stay above - for a Bull (click).

Sliding below that caused the Nifty to reach 4929 in quick time, with the some help from the Bearish candle pattern, seen above.

Currently the big Bullish cue, that the Nifty presents for the Long term, is on the EOD charts - the Bullish Golden Cross and the 34 EMA over the 200 DMA - which are still alive.

Lets see what the EOW has to offer..

Nifty 50: Medium Term View (or) Week Chart, each candle is 1 week's price action (or) EOW Chart: 

CNX Nifty 50 - End of Week (EOW) Chart - 11 May, 2012.

We were watching this screen all of last week (click).

The bears seemed to have made off with the cake - however a different perspective was shown for the record (click).

The Stochastic Indicator also seems to be telling us, that a consolidation is possible here.

As things stand - Bears have the power and all the Short MAs that we watch, are crossed Bearishly.

On to the the EOD then..

Nifty 50: Short Term View (or) Day Chart, each candle is 1 week's price action  (or) EOD Chart:  

CNX Nifty 50 - End of Day (EOD) Chart - 11 May, 2012.

We have moved to a candle chart for this study - just for a change.

Closing below the 5 EMA, all of last week - Bears had an easy job of sliding down the index.

Our old friend, the MACD remains in the minus - we watched that one from the start.

Channel mid point (blue line) and Fibonacci 61x, are the next scheduled stops.

Looking Forward into the next week:

Momentum across all screens - is with the Bears - as of this time.

Even the Long Term Bullish Crosses we studied, can Un-Cross themselves in a week, at this rate of fall.

Which is exactly why the contra thinking, confirmed Bulls among us would enjoy the next few days.

If this is the darkest hour - can the dawn be far?

Intra-week updates shall be up, to capture the action, next.