Learning from last Week: (click here for the previous post)
Patterns:
Index vacillates around the Wall (8666) all week, and closes the week one point above it #WeekChart1.
Support & Resistance:
Index again had support near the bottom Tyne of the Day Fork #DayChart1. August Wall (link) i.e. 8666 was the Resistance by weekend, and Index again closed above it.
Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all the above screens.
Indicators:
The STC nudges above the 76% Fibonacci retrace #MonthChart2.
Wrap:
Bulls and Bears fight for control of the wall (8666).
Looking forward into this Week:
Patterns:
'3 Outside up' Pattern (Study Links here, here or elsewhere), is active, on the Medium Term Chart #WeekChart1.
Support & Resistance:
Middle Tyne of the Fork on the Day chart is the resistance to beat #DayChart1. The Wall (link) for August i.e. 8666 is the first Support, bottom Tyne of the Day Fork #DayChart1 is next.
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen #DayChart1.
Indicators:
The MACD is below its MA and the histogram is ticking upward from below zero - Bulls attempting a comeback #Daychart2.
Wrap:
Bulls, look to the 'Three Outside Up' to make a new ATH #WeekChart1. Bears fight for life below the Wall (8666).
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Bulls pop the index, out of the Kumo #W2.
Chikou Span ticks up, just below the Kumo #W1,
Kumo Break out in progress #W2.
Wrap:
From support at the Kijun Sen, index pops out of the Kumo #W2.
Looking Forward into this Week:
Bulls next see the index staying above the Kumo and clearing the last high #W2.
Bears plan to defend the last high, with help from the Chikou Span resistance at the Kumo #W2.
Tenkan Sen is the support that the Bulls plan to defend #W2.
Wrap:
Bears aim to get below the Tenkan Sen, after getting back into the Kumo #W2.
Bulls seek a life clear above the Kumo and higher highs #W2.
Learning from last Week: (click here for the previous post)
Patterns:
'Hanging Man' candle of the previous week fails to work for the Bears - Doji shows an 'even steven' last week #WeekChart1.
Support & Resistance: Day Fork's middle Tyne was again Support #DayChart1. The Index made another new All Time High (ATH) #MonthChart1.
Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all the above screens.
Indicators:
The STS is in the oversold #DayChart2.
Wrap:
Bulls keep above the fork center and make a new ATH, while the Bears manage a 'Doji' candle last week #WeekChart1.
Looking forward into this Week:
Patterns:
'Three White Soilders' Pattern (Study Links here, here or elsewhere) is active on the Medium Term Chart #WeekChart1.
'Doji' candle's effect (Study Links here, here or elsewhere) is active on the Medium Term Chart #WeekChart1.
Support & Resistance:
Upper Tyne of the Fork on the Day chart is the resistance to beat #DayChart1. Middle Tyne of the Fork on the Weekly chart is the first support #WeekChart1.
Moving Averages:
The 5 EMA on the Week screen falls at 2169 a level the bulls need to defend #WeekChart1.
Indicators:
TSI nears resistance at the 74% Fibonacci mark #MonthChart2.
Wrap:
Bulls, look at making another new and higher ATH #WeekChart1. Bears hope the 'Doji' candle gets them some red #WeekChart1.
