Learning from last Week: (click here for the previous post)
Patterns:
Previous Week's Doji candle #WeekChart1, sends the index down to the Day Fork's bottom, Island reversal in Progress #DayChart1.
Support & Resistance:
Index takes support #DayChart1, exactly at the Bottom Tyne of the Day Fork #DayChart1. Resistance was near the Island #DayChart1.
Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all but the day chart #DayChart1.
Indicators:
The STC stays, well above the 76% Fibonacci retrace #MonthChart2.
Wrap:
Bears get a quick fall and set up an island reversal, Bulls hold the Fork at support #DayChart1.
Looking forward into this Week:
Patterns:
Index maintains green candles for the past 6 months. Bulls on Lucky 7? #MonthChart1.
Island reversal (Study Links here, here or elsewhere) is possible on the Short Term Charts, as long as, the index keeps under 8848 #DayChart1.
Support & Resistance:
Bottom Tyne of the Fork on the Day chart is the support to beat. for bears #DayChart1. 8849 is immediate resistance, the ATH (9119) is the next resistance.
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen #DayChart1.
Indicators:
The MACD and its histogram deflect off the zero line, are now in positive zone #DayChart2.
Wrap:
Bulls, on the 7th straight Green Month #MonthChart1. Bears look for change, make a fast fall and set up an island reversal #DayChart1.
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Index again attempts to get out of the Kumo (unsuccessfully) #W2.
Chikou Span ranges, points to Price line - under the Kumo resistance #W1,
Bears manage to close below the Tenkan Sen and get an edge #W2.
Wrap:
Kumo gravity holds back the Bulls, falls to support at Kijun Sen #W2.
Looking Forward into this Week:
Bulls want the index above the Kumo and then above the last high #W2.
Bears push to go lower, down Kumo #W2.
Chikou Span nears the Price line - bearish cross or bullish deflection on #W1.
Wrap:
Bears aim to get below the last low, going down the Kumo #W2.
Bulls want to hold above the Kijun Sen and clear the Kumo #W2.
Learning from last Week: (click here for the previous post)
Patterns:
'Evening Star' Pattern, is active, and will be as long as the index is below 2171 #MonthChart1.
Support & Resistance:
Middle Tyne of the Fork on the Weekly chart cracks #WeekChart1, Index failed to make a bullish cross of the 5 EMA and 13 MA on the day chart #DayChart1. The 2015 High was Support #WeekChart1.
Moving Averages:
The critical EMA 5, is bullishly above the MA 13, only on the Month Chart #MonthChart1.
Indicators:
The STS dips from the oversold after a Pullback #DayChart2.
Wrap:
Bulls fall to 2015 High #WeekChart1. Bears capitalize on the possibility of an 'Evening Star' on the Month chart #MonthChart with a massive red week.
Looking forward into this Week:
Patterns:
'Evening Star' Pattern (Study Links here, here or elsewhere) can stay active, if the September close is below 2171 #MonthChart1.
Support & Resistance:
Bottom Tyne of the Fork on the Weekly chart is support #WeekChart1. Bottom Tyne of the Fork on the Daily chart is first resistance #DayChart1.
Moving Averages:
The EMA 5, on the Long Term Chart is a 2128 for the month - a mark the Bulls need to defend #MonthChart1.
Indicators:
TSI returns from resistance at the 74% Fibonacci mark #MonthChart2.
Wrap:
Bulls seek life above 2171. Bears make honey with the 'Evening Star' possibility #MonthChart1.
