US - S&P 500 - Triple Screen 'Technical Analysis' - H&S ? - Week 2 of May 2016.

 

 

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

Patterns: 

• Bears bring index down to the 50 SMA #D1, possible Head and Shoulder (H&S) pattern #D1, on the Day Chart.

Support & Resistance:

• Index keeps above the Monthly 5 EMA & 13 SMA confluence #M1. After facing resistance near the last high (2116), index dives to the daily 50 SMA #D1.

Moving Averages:  

• The critical 5 EMA, is below the 13 SMA, only on the Day Screen #D1.

Indicators:

• STS heads below the 50% mark #D2.

Wrap:

Bears keep the index below the previous High #W1. Bulls continue to hold above the daily 222 SMA and open the possibility of a H&S.

Looking forward into this Week:

Patterns:

• Morning Star (Study Links here, here or elsewhere), is active on the Month Chart #M1. 
• Possible, Head & Shoulder Pattern (Study Links here, here or elsewhere) on the Day Chart, has to be watched - for the right shoulder formation #D1. 

Support & Resistance: 

• Last High (2116) continues to be the resistance to beat. The Daily 222 SMA, is still the support, that Bulls want to stay above #D1.

Moving Averages:

• The Death Cross (55 & 222 SMA), has turned into a 'Golden Cross' on the Day Screen.

Indicators:

• TSI is above the 50% mark #M2.

Wrap:

Bulls, hold the fall, to attempt another go at making a higher high (2116+), with the possibility of a H&S #D1.
Bears would want to contain the current rise, to complete a H&S #D1.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Throwback & Pullback - Week 2 of May 2016.

 

 

 

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

Patterns:

• Evening Doji Star.pattern #W1, brings in another red week and takes the Throwback to target #D1. 

Support & Resistance:

• 50 SMA on the weekly  screen #W1 was resistance. The rising channel on the day screen was support  #D1.

Moving Averages: 

• The critical 5 EMA, is now bearishly below the 13 SMA, on the Day screen #D1.

Indicators:

• The TRD #M2, is facing resistance at the mid point (50% Fibonacci).

Wrap:

Pullback to Week Channel bottom #W1 and Throwback to Day channel top #D1, produces a trading range.

Looking Forward into this Week:

Patterns:

• Index is between the zone of "Throwback" to Day channel top #D1 and "Pull back" to Week channel bottom #W1 (Study Links here, here or elsewhere). This range to be resolved.

Support & Resistance:

• Resistance is at 8040, the 'Fibonacci 76.4% retrace of the 2010 low to the ATH)'  #W1. Support is at the (red) Day Channel Top #D1.

Moving Averages: 

• The Death Cross (50 and 200 SMA) has been active for the past 6+ months #D1.

Indicators:

• The MACD is below its MA and its histogram is below the zero line, this is good for Bears #D2.

Wrap :

Bulls and bears seek resolution  of the current range as studied. 
Index being closer to the lower end of the range, bears hope for an upset #D1.

Brent Crude Oil - Ichimoku Weekly Study - Chikou Span Deflects - Week 2 of May 2016.

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

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

Bears halt the index at the Chikou Span  #W1.
Tenkan Sen supports the falling index #W2.
Senoku Spans A and B flat #W1 

Wrap:
Chikou Span turns back at the price line #W1, Index goes red last week #W2.



Looking Forward into this Week: 

Chikou Span returning from the price line, great for Bears  #W1.
Keeping the index above the Kijun Sen, important for Bulls #W2. 
Bears hope the Throwback continues upto the Kijun Sen #W2. 

Wrap:
Index heading to the Kumo #W2, and a Bullish Cross of the Chikou Span and Price line #W1, would the Bull ask.
Bears see the throw back of the index, reaching the Kijun Sen with the Chikou Span staying below the Price line #W2,

Say....

 

US - S&P 500 - Triple Screen 'Technical Analysis' - High Wave - Week 1 of May 2016.

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

Patterns: 

• Bears keep the current high, lower than the previous (2116) #W1, taking the index below the Fork's bottom Tyne, April makes a High Wave candle #M1.

Support & Resistance:

• Index keeps above the Monthly 5 EMA. Resistance near the last high (2116), helps the Bears get some red on the chart #D1.

Moving Averages:  

• The critical 5 EMA, is below the 13 SMA, only on the Day Screen #D1.

Indicators:

• STS slips from the over sold zone #D1.

Wrap:

Bears keep the index below the previous High #W1. Bulls continue to hold above the daily 222 SMA.

Looking forward into this Week:

Patterns:

• Morning Star (Study Links here, here or elsewhere), is active on the Month Chart #M1. 
• High Wave Candle (Study Links here, here or elsewhere) on the Month Chart, shows  some indecision among the players #M1. 

Support & Resistance: 

• Last High (2116) continues to be the resistance to beat. The Daily 222 SMA, is still the support, that Bulls want to stay above #D1.

Moving Averages:

• A Death Cross (55 & 222 SMA), is about to turn into a 'Golden Cross' on the Day Screen.

Indicators:

• TSI is above the 50% mark #M2.

Wrap:

Tired Bulls, struggle to make a higher high (2116+) and a move to the ATH #W1.
Bears after the slip below the Fork, want to ensure a lower high (2116-) #D1.