S&P 500 - Triple Screen 'Technical Analysis' - Shooting Stars and Marubozus - Week 1 of May 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 25 Apr'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 25 Apr'14

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Dec'13, onward - as on 25 Apr'14

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

Patterns:

• Bulls hold fort, with the continuation pattern studied last week 'Opening White Marubozu' on the EOW #W1 - continuing the consolidation. 
• Shooting Star forms again after two Marubozus #W1.

Support & Resistance:

• Index slips below the 5 EMA on the short term #D1. The MVWAP 34 #D1 provides support.

Moving Averages:  

• Bullish cross of the 5 EMA and 13 SMA #D1 on the short term screen helps the bulls. 

Indicators:

• RSI 13, continues to meander in the 50s #W2.
• TSI seen hanging around its crucial Fibonacci level #M2.

Wrap:

Index closes the week below the 5 EMA on the Daily charts - Bears fail to close below 1862 and rule the short term charts.

Looking forward into this Week:

Patterns:

• Last week's 'Shooting Star' (Study link here, here or elsewhere) candle is active  #W1. 
• The Continuation Pattern i.e Opening White Marubozu is also active (Study link here, here or elsewhere)

Support & Resistance:

• Bulls see support at the 13 SMA #W1, while the Week Channel Top #W1 remains resistance.

Moving Averages:

• 5 EMA and 13 SMA on the EOW #W1 would cross bearishly at a Index reading below 1835.

Indicators:

• Stochastic 34 3 4, slipping back into the over-bought zone, works for the Bulls #D2. 

Wrap:

Bulls consider another ATH - Bears shoot to get below the MVWAP 34 on the Weekly charts #W1. 

The Dow Jones - Ichimoku Study - Tenkan Sen Hold - Week 1 of May 2014.

Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 25 Apr'14

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



Learning from the earlier Study: (click here for the post)

Bull - Bear stand-off  continues around the ATH #W2.
Price Line bounces off the Tenkan Sen intra-week #W2.
At present height, the Chikou span seen running bearishly into the Price Line #W1.


Wrap: Index takes support at Tenkan Sen - broad ranging continues all 2014  #W2.




Looking Forward into this Week:

Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, would show direction going forward before Price line gets too close to the Kumo $W2.
Bulls wary of the Chikou span bearishly crossing the Price line #W1.


Wrap: Bulls look to break above this range #W2, Bears shoot to get below the Tenkan Sen #W2.

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Tenuous 3 Outside up - Week 1 of May 2014.

Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 25 Apr'14

Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 25 Apr'14

Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Aug'2013, onward - as on 25 Apr'14

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

Patterns:

• Tenuous Three outside up #W1 continues to be active, as week closes a mere 7 points above 11th April Close - 6776. 
• Evening star possibility on the Monthly charts remain #M1.

Support & Resistance:

• The 5 EMA on the short term charts #D1 cracked by Bears. 

Moving Averages:

• Index sees the short term 5 EMA and 13 SMA deflect Bullishly last week #D1. 

Indicators:

• MACD and its MA remain crossed bearishly #D2, 
• TRD hanging around the 61.8% retrace drawn #M2.

Wrap:

Bull hold of short term screen tenuous - Bears eye a evening star possibility by month end #M1.

Looking Forward into this Week:

 

Patterns:

• Bullish Three outside up ( Study link here, here or elsewhere) active - Bears happy if Index  slips below 6776 (11th April Close) #W1.
• Bears see a possibility of an Evening Star formation #M1 (Study link here, here or elsewhere)  

Support & Resistance:

• The support, if 6776 fails, is the Weekly 5 EMA i.e. 6717.
• EOD Channel top is now resistance for the Bulls #D1. 

Moving Averages: 

• Golden Cross (study here, here or elsewhere) of the 50 & 200 SMA is on and steady, even as index is clear above these SMAs #D1.

Indicators:

• TRD Indicator staying above the 61.8% retrace boosts bulls #M2.
• MACD staying below its MA favors Bears #D2.

Wrap:

Bears hope for a Evening Star starting May #M1, Bulls look to keep the weekly Three outside up alive #W1.

BSE Sensex - Ichimoku Study - Bull Pause - Week 1 of May 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 25 Apr'14

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



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

Bulls take another break near All Time Highs #W2.
Senkou Span A & B - gap widens #W3.
Tenkan Sen and Kijun Sen deflection clearly visible and gap widening #W2



Wrap: Bulls pause near ATHs for the second week in a row #W2.




Looking Forward into this Week:

Chikou Span, keeping current altitude, will avoid the price-line, for a few months #W1.
Current deflection of Tenkan Sen & Kijun Sen, gave the bulls gains #W2.
Tenkan Sen & Kijun Sen gap can continue to widen, even if index fluctuates 600 (Sensex) or 200 (Nifty) odd points over the next few weeks #W2. 



Wrap: Bears like the index below the Tenkan sen - Bulls seek new highs beyond the deflection #W2.

S&P 500 - Triple Screen 'Technical Analysis' - Marubozu Continuation - Week 4 of April 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 17 Mar'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 17 Mar'14

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Dec'13, onward - as on 17 Mar'14

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

Patterns:

• Bulls back on top, with the continuation pattern studied last week 'Closing  Black Marubozu' on the EOW #W1 - continuing the consolidation. 
• Opening White Marubozu is the last weekly candle formed #W1.

Support & Resistance:

• Index moves back above the weekly 13 SMA #W1 but stops shy of making a  short term Bullish cross of the 5 EMA and 13 SMA #D1. 

Moving Averages:  

• The 5 EMA and 13 SMA close to deflecting or crossing in the Medium Term #W1. 

Indicators:

• RSI 13, continues to meander inthe 50s #W2.
• TSI seen hanging around its crucial Fibonacci level #M2.

Wrap:

Index closes the week back above the crucial 13 SMA on the Weekly charts - Bears lose control of the short term charts.

Looking forward into this Week:

Patterns:

• The weekly 'Shooting Star' (Study link here, here or elsewhere) candle is active  #W1. 
• The Continuation Pattern i.e Opening White Marubozu is also active (Study link here, here or elsewhere)

Support & Resistance:

• Bulls see support at the 13 SMA #W1, while the Week Channel Top #W1 remains resistance.

Moving Averages:

• 5 EMA and 13 SMA on the EOW #W1 would cross bearishly at a Index reading below 1819.
• Keeping above 1862 on Monday would produce a Bullish Cross of the 5 EMA and 13 SMA #D1.  

Indicators:

• Stochastic 34 3 4, slipping back into the over-sold zone, works for the Bears #D2. 

Wrap:

Bears look to get below 1862 - Bulls need to stay above the weekly 13 SMA 1842 #W1 to remain on top.

The Dow Jones - Ichimoku Study - Bears Defend Top - Week 4 of April 2014.

Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 17 Mar'14

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



Learning from the earlier Study: (click here for the post)

Bull - Bear stand-off  continues around the ATH #W2.
Tenkan Sen close to Price Line #W2.
At present height, the Chikou span seen running into the Price Line #W1.


Wrap: Index on pause near ATH - broad ranging continues all 2014  #W2.




Looking Forward into this Week:

Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, would show direction going forward before Price line gets too close to the Kumo $W2.
Bulls wary of the Chikou span bearishly crossing the Price line #W1.


Wrap: Bulls want the Tenkan Sen and Kijun Sen staying apart #W2, Bears look to get and stay below the Tenkan Sen #W2.

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bulls sneak a 3 outside up - Week 4 of April 2014.

Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 17 Mar'14

Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 17 Mar'14

Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Aug'2013, onward - as on 17 Mar'14

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

Patterns:

• Engulfing Pattern of previous week becomes a Three outside up #W1 by a wafer thin margin. 
• Evening star possibility on the Monthly charts remain #M1.

Support & Resistance:

• The 5 EMA on the medium term charts #W1 was support for Bulls once again. 

Moving Averages:

• Index sees the short term 5 EMA and 13 SMA meeting for a deflection or cross #D1. 

Indicators:

• MACD and its MA cross bearishly #D2, 
• TRD hanging around the 61.8% retrace drawn #M2.

Wrap:

Bulls manage to retain control of all screens - Bears eye a evening star #M1.

Looking Forward into this Week:

 

Patterns:

• Bullish Three outside up ( Study link here, here or elsewhere) active but needs a watch due to the meager margin it grew out of #W1.
• Bears see a possibility of an Evening Star formation #M1 (Study link here, here or elsewhere)  

Support & Resistance:

• The current support, the April'14 Wall i.e. 6642 - was tested, last couple of weeks.
• EOD Channel top is now resistance for the Bulls #D1. 

Moving Averages: 

• Golden Cross (study here, here or elsewhere) of the 50 & 200 SMA is on and steady, even as index is clear above these SMAs #D1.
• 5 EMA staying above the 13 SMA  (+6724 for Monday)  important for Bulls #D1.

Indicators:

• TRD Indicator staying above the 61.8% retrace boosts bulls #M2.
• MACD staying below its MA favors Bears #D2.

Wrap:

Bears hope for a Evening Star #M1, Bulls seek to keep the weekly Three outside up alive #W1.

BSE Sensex - Ichimoku Study - Deflection Gains - Week 4 of April 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 18 Month's Data - as on 17 Mar'14

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



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

Bulls take a break near All Time Highs #W2.
Senkou Span A & B - gap widens #W3.
Tenkan Sen and Kijun Sen deflection clearly visible #W2



Wrap: Deflection of the Tenkan Sen and Kijun Sen: gain for Bulls #W2.




Looking Forward into this Week:

Chikou Span, keeping current altitude, will avoid the price-line, for a few months #W1.
Current deflection of Tenkan Sen & Kijun Sen, makes for a bull party #W2. 



Wrap: Bears like a cross of the Tenkan sen and the Kijun Sen - Bulls see new highs beyond the deflection #W2.

Say ...

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bulls Hold fort - Week 3 of April 2014.

Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 11 Mar'14

Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 11 Mar'14

Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Aug'2013, onward - as on 11 Mar'14

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

Patterns:

• January and February Candles formed a  'Piercing Pattern' #M1. Bulls gain in March and have muted gains in April.
• Index forms engulfing pattern on weekly charts #W1. Evening star possibility on the Monthly charts #M1.

Support & Resistance:

• The 5 EMA on the medium term charts #W1 was support for Bulls. 

Moving Averages:

• Index closes above the short term 5 EMA #D1. 

Indicators:

• MACD and its MA meet #D2, TRD nudging the 61.8% retrace drawn #M2.

Wrap:

Bulls control all screens - Bears mull evening stars #M1.

Looking Forward into this Week:

 

Patterns:

• Bullish 'Piercing Pattern' (Study link here, here or elsewhere) on the Long Term Chart #M1 is active and has produced new breakout Highs.  
• Bullish Engulfing sets up a Three outside up ( Study link here, here or elsewhere) #W1.
• Bears see a possibility of an Evening Star formation #M1 (Study link here, here or elsewhere)  

Support & Resistance:

• The current support is the April'14 Wall i.e. 6642 (Wall = Approx Hawala rate - study link here, here or elsewhere). 
• EOD Channel top is now resistance for the Bulls #D1. 

Moving Averages: 

• Golden Cross (study here, here or elsewhere) of the 50 & 200 SMA is on and steady, even as index is clear above these SMAs #D1.  

Indicators:

• TRD Indicator staying above the 61.8% retrace boosts bulls #M2. MACD sliding below its MA favors Bears #D2.

Wrap:

Bears hope for a Evening star #M1, Bulls need to stay above last week's close - to continue the bull run with a 'Three outside up' #W1.