US - S&P 500 - Triple Screen 'Technical Analysis' - 3 inside down - Week 2 of January 2016.

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

Patterns:.

• 'Three inside down' pattern forms on the Weekly charts #W1.

Support & Resistance:

• Index was resisted by the MVWAP34 on the Medium Term Screen #W1. Support was at the MVWAP34 on the Long Term Screen #M1.

Moving Averages:  

• The 5 EMA on the Month Screen deflects bearishly below the 13 SMA #M1. 

Indicators:

• RSI 13, in the 40s  #W2.  

Wrap:

Bears after holding the index to a lower high, crack through the previous Day Channel Bottom #D1.

Bulls keep index just above the long term MVWAP34 #M1.

Looking forward into this Week:

Patterns:

• 'Three inside down' pattern (Study Links here, here or elsewhere) is active on the Medium Term Chart #W1.

Support & Resistance: 

• Day Channel bottom (pink) #D1 is likely support.  Previous high (2080) is resistance #D1,

Moving Averages:

• The 5 EMA on the Monthly Screen will cross bullishly above the 13 SMA, if the index closes above 2070 this month #M1.

Indicators:

• STS dives to the oversold #D2.

Wrap:

Bulls hope the support at the MVWAP34 #M1, shows them some green.
Bears push to get some rewards of the 'Three inside down' pattern.

Brent Crude Oil - Ichimoku Study - Fold - Week 2 of January 2016.

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

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

Bulls fold after a month of consolidation bears make a lower low #W2.
Gap between the Senkou Span A & B, increases #W3.
Gap between Tenkan Sen and Kijun Sen, steady #W2.

Wrap: 
After a pause Index makes a lower low.


Looking Forward into this Week:

Chikou Span is a long way from the price line  #W2.
Senkou Span A & B  crossing or deflecting helps the Bull or Bear Causes respectively #W3.
Tenkan Sen and Kijun Sen, making a cross or deflection is the next event on the horizon #W2.


Wrap:
Bears look to keep the index below the Tenkan Sen, and make some lower lows #W2.
An oversold bounce or a bullish cross of the Tenkan Sen and Kijun Sen #W2, is the next Bull hope.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Channel Bottom again - Week 2 of January 2016.

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

Patterns:

• Bears hold below the Monthly 5 EMA and revisit the Weekly Channel bottom with a long red candle #W1.
• Bears take down the index with the 'Three White Soilders' pattern #W1.

Support & Resistance:

• Index found support near the 76.4% retrace of the 2008 low to the ATH #M1., resistance was at the monthly 5 EMA #M1.

Moving Averages: 

• The critical 5 EMA and 13 SMA, deflect bearishly on the Week Chart #W1.

Indicators:

• On the week charts the STS #W1, is still above the over sold zone.

Wrap:

Bulls fail to sustain above the daily 50 SMA #D1.
Bears defend the Monthly 5 EMA #M1, and crash the index to the Weekly Channel Bottom #W1...again.

Looking Forward into this Week:

Patterns:

• 'Three White Soilders' pattern (Study Links here, here or elsewhere) is active on the Medium Term Chart #W1.
• The Long Term Chart's focus moves to the Long Legged Doji (Study Links here, here or elsewhere) and its implications #M1.

Support & Resistance:

• Index has immediate support at 7494 the 76.4% retrace of the 2008 low to the ATH #M1. Resistance is at 8040 (the 76.4% retrace of the 2011 low to the ATH) #W1.

Moving Averages: 

• The Death Cross (50 and 200 SMA) is active D1.

Indicators:

• The MACD slips below the zero #D2.

Wrap :

Bulls aim to stall the fall with a Higher Low #W1.

Bears hope to break below 7494.

Say....

US - S&P 500 - Triple Screen 'Technical Analysis' - Channel wars - Week 1 of January 2016.

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

Patterns:.

• The combination of the Big 'W' and the new Day Channel #D1, make a neat 'Cup and handle' pattern. Price oscillating in the Handle (or Day Channel) #D1 for the past couple of weeks.

Support & Resistance:

• Index was in and about the 200 SMA, after returning near the Channel Top (Day Chart) #D1 - it  closed below all the MAs that we track across all three screens.

Moving Averages:  

• The 5 EMA on the Daily Screen is crossed bullishly above the 13 SMA. 

Indicators:

• RSI 13, above the 50s  #W2.  

Wrap:

Bears again hold the index to a lower high, defending the Day Channel Top #D1.

Bulls keep index in the 'Handle' of the 'Cup and Handle' pattern #D1.

Looking forward into this Week:

Patterns:

• The 'W' pattern on the Day Chart is still in play (Study Links here, here or elsewhere) #D1.
• A 'Cup and Handle' pattern is s possibility on the charts #D1, #W1 & #M1 (Study Links here, here or elsewhere) so long as a Handle is viable on any relevant time frame.

Support & Resistance: 

• Day Channel bottom (pink) #D1 is support.  Index Resistance for a Bull break through is the is the Day Channel's Top #D1,

Moving Averages:

• The 5 EMA on the Daily Screen will remain crossed bullishly above the 13 SMA, if the index closes above 2032 on the first trading day of 2016 #D1.

Indicators:

• STS in middle ground #D2.

Wrap:

Bulls hope for rewards from the big 'W' pattern #D1, with a breakout from the ATH #M1.
Bears push for a breakdown at the handle or the Day Channel and life below 2000 #D1..