Say ...

S&P 500 - Triple Screen 'Technical Analysis' - Hanging Man with a Broadening Top Pop !!! - Week 4 of November 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 22 Nov'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 22 Nov'14

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Jan'14, onward - as on 22 Nov'14

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

Patterns:

• October Candle the Green Hanging Man #M1, produces a Bullish Continuation for now.  
• Index rises from the Day Channel Bottom to fresh ATH - producing a perfect 'Broadening Top' on the Day Charts, index pops out of the 'top' #D1.

Support & Resistance:

• Bulls after defending the Month channel bottom on the EOM #M1, get yet another ATH #D1.
• Bears pushed back to defending the Weekly channel top #D1, #W1.

Moving Averages:  

• Daily 5 EMA and 13 SMA, mildly deflect Bullishly #D1.

Indicators:

• RSI 13 still in the 60s, divergence to price seen #W2.

Wrap:

Bulls pop out of the Broadening top on the EOD after keeping above the daily 5 EMA all the way from the Channel bottom i.e. for 26 days. 
Bears fail to defend the Broadening Top's top and are near the weekly channel top (orange) #D1.

Looking forward into this Week:

Patterns:

• Hanging Man (Study Links here, here or elsewhere) active in the Long Term screen #M1.
• Broadening Top (Study Links here, here or elsewhere) seen on the Day Chart - follow up to be watched #D1.

Support & Resistance: 

• Weekly Channel Top #W1 and current All Time High (ATH) are resistances.
• The 5 EMA on the daily charts and on weekly charts (2026) are the supports, Bears want to break #W1.

Moving Averages:

• The Index is currently above all the MAs that we track.

Indicators:

• TSI holds above the 76.4% Fibonacci retrace #M2.

Wrap:

Bulls after popping above the 'Broadening Top' on the EOD #D1, look to negotiate the Hanging Man's effect by month end.
Bears look to defend the Weekly channel top #W1 and crack that elusive 5 EMA on the Day Chart #D1.

The Dow Jones - Ichimoku Study - ATHs ! - Week 4 of November 2014.

Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 22 Nov'14

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

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

Bulls after the kick off from the Kumo, get above the Tenkan Sen and Kijun Sen and make another ATH #W2.
Chikou Span deflection off the Price line had strengthened the Bull cause #W1.
Tenkan Sen and Kijun Sen still in Touch and rising together #W2.
Senoku Span A & B gap is narrow and rising #W3.


Wrap: Bulls bounce off the Kumo and use the Chikou Span deflection, to make it rain ATHs ! # W2. Bears lose the plot.




Looking Forward into this Week:

Bears aim for a journey back to the Kumo #W2.
Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, is now in progress #W2.
Chikou Span staying above the Price line, is the current Bull ask #W1.
Bearish cross of the Senoku Span A-B is the Bear hope #W3.


Wrap: Bears hope to get back to the Kumo #W2 - Bulls see a Bullish Deflection of Tenkan Sen & Kijun Sen next - even if previous Highs are re-tested #W1.

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Skirmish Line Action - Week 4 of November 2014.

Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 22 Nov'14

Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 22 Nov'14

Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Feb'2014, onward - as on 22 Nov'14

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

Patterns:

• November candle  revives possibility of a Long Term Evening (Doji?) Star #M1.
• Old EOD Channel Line (blue) was the skirmish line for Bulls and Bears, most of last week as studied - Bulls pull ahead by week end #D1

Support & Resistance:

• Index yo-yo'd about the old EOD channel top (Blue) and used the Daily 13 SMA as support last week #D1. R1 on the Monthly Pivot #M1, was resistance not reached.

Moving Averages: 

• The critical 5 EMA and 13 SMA on the EOW, stay Bullishly crossed after a mild deflection last week #W1.

Indicators:

• MACD and its MA meet up to deflect by week end #D2.

Wrap:

Bulls are dominant across all screens, index deflects the 'short term' 13 SMA.
Bears lose advantage at the skirmish line, but hold below the R1 of the monthly pivot #M1. 

Looking Forward into this Week:

Patterns:

• October candle is a Closing White Marubozu (Study Links here, here or elsewhere),  same is now active in the long term, November Candle to be watched for evening star possibility #M1.
• Old EOD Channel Top (blue) is now the support that the Bulls need to stay above, to be able to carry on to the red channel top #D1.

Support & Resistance:

• Index supports that the Bulls want to stay above, are the 5 EMA (8313) on the Week Chart #W1 and above that, the 13 SMA on the EOD #D1.
• Bears look to get the Index below the old EOD channel top (blue) failing which, hold the R1 of the monthly pivot #M1, by month end. 

Moving Averages: 

• Golden Cross (study here, here or elsewhere) of the 50 & 200 SMA is on - the MA's are still converging #D1.
• Bearish Cross or follow thro' deflection of the 5 EMA and 13 SMA on the EOD needs to be watched #D1. 

Indicators:

• STS staying in the overbought, continues to work for the Bulls #W2.

Wrap :

Staying above the November Pivot's #M1, and blue EOD channel top, Bulls aim for the red EOD channel resistance #D1.
Bears seek to remain in the game, by sending the Index below the blue EOD channel top #D1 after defending the R1 of the November pivot #M1.

BSE Sensex - Ichimoku Study - Bull Top again - Week 4 of November 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 18 Month's Data - as on 22 Nov'14

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



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

Bulls touch yet another ATH above the Tenkan Sen #W2.
Senkou Span A & B - gap expanding #W3.
Tenkan Sen and Kijun Sen gap constricting again this week #W2


Wrap: Index uses the resistance of the last high, moves above the Tenkan Sen and makes yet another new ATH #W2




Looking Forward into this Week:

Senkou Span 'A & B' diverging, is good for Bulls #W3.
A Bearish, Chikou Span cross with Price line, at current altitude, will need a few months #W1.
Tenkan Sen and Kijun Sen deflecting is also a few weeks away by current trends #W2


Wrap: Bears wish to get the index moving towards the Tenkan Sen, Bulls focus on making new ATHs  #W2.

Say ...

S&P 500 - Triple Screen 'Technical Analysis' - Hanging Man with a Broadening Top !!! - Week 3 of November 2014.

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

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

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Jan'14, onward - as on 14 Nov'14

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

Patterns:

• October Candle the Green Hanging Man #M1, produces a Bullish Continuation for now.  
• Index rises from the Day Channel Bottom to fresh ATH - Producing a perfect 'Broadening Top' on the Day Charts, exactly as studied in the past couple of weeks #D1.

Support & Resistance:

• Bulls after defending the Month channel bottom on the EOM #M1, get yet another ATH #D1.
• Bears staunchly defend the Broadening Top's top #D1 all last week.

Moving Averages:  

• 5 EMA and 13 SMA, in a Bullish Cross #W1.

Indicators:

• RSI 13 still in the 60s, divergence to price seen #W2.

Wrap:

Bulls take off from the Long Term Channel bottom #M1 with a weekly Hammer #W1, and now see a long term (October candle) Hanging Man #M1. 
Bears defend the Broadening Top's top #D1.

Looking forward into this Week:

Patterns:

• Hanging Man (Study Links here, here or elsewhere) active in the Long Term screen #M1.
• Broadening Top (Study Links here, here or elsewhere) forms on the Day Chart - ready for action #D1.

Support & Resistance: 

• Broadening Top Pattern's Top line #D1, and 2050 near the fresh new All Time High (ATH) are resistances.
• The 5 EMA on the weekly charts (2007) is the current support #W1.

Moving Averages:

• The Index is currently above all the MAs that we track.

Indicators:

• TSI holds above the 76.4% Fibonacci retrace #M2.

Wrap:

Bulls after hammering their way to a fresh new All Time High (ATH), and reaching the pinnacle of the Broadening Top #D1, negotiate the Hanging Man's effect now.
Bears on edge, praying that the Broadening Top and Hanging Man Combination works in their favor.

The Dow Jones - Ichimoku Study - ATH ! - Week 3 of November 2014.

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

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

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

Bulls after the kick off from the Kumo, get above the Tenkan Sen and Kijun Sen and go to yet another new ATH #W2.
Chikou Span deflection off the Price line strengthens the Bull cause #W1.
Tenkan Sen and Kijun Sen still in Touch and rising together #W2.
Senoku Span A & B gap is narrow and rising #W3.


Wrap: Bulls bounce off the Kumo and use the Chikou Span deflection, to make yet another new ATH #W2. Bears get back half their weekly losses.




Looking Forward into this Week:

Bears aim for a journey back to the Kumo #W2.
Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, is now in progress #W2.
Chikou Span staying above the Price line, is the current Bull ask #W1.
Bearish cross of the Senoku Span A-B is the Bear hope #W3.


Wrap: Bears hope to get back to the Kumo #W2 - Bulls see a Bullish Deflection of Tenkan Sen & Kijun Sen next - even if previous Highs are tested #W1.

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Skirmish at Channel Line - Week 3 of November 2014.

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

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

Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Feb'2014, onward - as on 14 Nov'14

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

Patterns:

• November candle  revives possibility of a Long Term Evening Doji Star#M1.
• Old EOD Channel Line (blue) remained resistance for Bulls most of last week as studied #D1

Support & Resistance:

• Index was held back by the old EOD channel (Blue) but stayed well above the Daily 5 EMA #D1.

Moving Averages: 

• The critical 5 EMA and 13 SMA on the EOW, stay Bullishly crossed #W1.

Indicators:

• MACD above the zero line, divergence to price apparant #D2.

Wrap:

Bulls dominant across all screens, manage to crack the Blue EOD channel resistance last week, Bears hold the skirmish to a deuce, bringing back the Index to the Blue EOD channel top #D1 

Looking Forward into this Week:

Patterns:

• October candle is a Closing White Marubozu (Study Links here, here or elsewhere),  same is now active in the long term, November Candle to be watched for evening star possibility #M1.
• Old EOD Channel Top (blue) remains the resistance that the Bulls need to stay above, to carry on to the red channel top #D1.

Support & Resistance:

• Index supports that the Bulls want to stay above, are the 5 EMA (8232) on the Week Chart #W1 and below that. 8171 the November Wall.
• Bears look to keep the Index below the old EOD channel top (blue) failing which, the  EOD channel Top (red) #D1.. 

Moving Averages: 

• Golden Cross (study here, here or elsewhere) of the 50 & 200 SMA is on - the MA's are currently converging #D1.

Indicators:

• STS staying in the overbought, continues to work for the Bulls #W2.

Wrap :

Staying above the November Pivot #M1, and blue EOD channel top, Bulls aim for the red EOD channel resistance #D1.
Bears seek to remain in the game, by sending the Index below the blue EOD channel top #D1 and even slipping below the November Wall (study).

BSE Sensex - Ichimoku Study - Bull Top - Week 3 of November 2014.

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

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



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

Bulls touch another ATH above the Tenkan Sen #W2.
Senkou Span A & B - gap expanding #W3.
Tenkan Sen and Kijun Sen gap constricting #W2


Wrap: Index uses the resistance of the last high, moves above the Tenkan Sen and makes a new ATH #W2




Looking Forward into this Week:

Senkou Span 'A & B' diverging, is good for Bulls #W3.
A Bearish, Chikou Span cross with Price line, at current altitude, will need a few months #W1.
Tenkan Sen and Kijun Sen deflecting is also a few weeks away by current trends #W2


Wrap: Bears wish to get the index below the Tenkan Sen, Bulls focus on making new ATHs  #W2.