S&P 500 - Triple Screen 'Technical Analysis' - About Triple Tops and ATHs - Week 5 of April 2015.

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


Patterns:

• Index breaks out of its range and runs into the ATH (All Time High) and makes a Triple Top #D1.
• March and February candles form a Bearish Harami, with April candle showing green - for most of this month #M1. 

Support & Resistance:

• Index halts at the ATH #M1 & #D1, while support was around the 13 SMA on the EOW #W1.

Moving Averages:  

• The all important, 5 EMA and 13 SMA, on the medium term screen, stay deflected Bullishly again last week #W1.

Indicators:

• RSI 13 is still in the 50s #W2.

Wrap:

Index again makes a higher high on the Day Chart, Bulls still on top at the ATH with a Third Top #D1.

Looking forward into this Week:

Patterns:

• Bears Struggle to make a Long Term 'Three inside down' after the Bearish Harami - see last three candles #M1 (Study Links here, here or elsewhere) a Triple top on the Short Term may help (Study Links here, here or elsewhere). 
• Bulls look to History (re-look) #M1 & #M3, and the support at the 5 EMA #M1, for a resumption of the Bull run.

Support & Resistance: 

• 5 EMA on the EOW (2095) #W1, is the Index Support that Bears want to get below. 
• Bulls would push for new ATHs and a month close in the green #D1.

Moving Averages:

• If the Index again closes the week above 2066, the 5 EMA and the 13 SMA on the Weekly  Charts, would stay deflected Bullishly #W1.

Indicators:

• TSI, support at the 61.8% Fibonacci retrace, good for the Bulls #M2.

Wrap:

Bulls after reaching the ATH, look for Higher Highs and a resumption of the Bull run #D1.

Bears after triggering a Long term Bearish Harami, look to convert it into a '3 inside down', by closing April below 2068 #M1, with some help from the Triple Top #D1.

The Dow Jones - Ichimoku Study - Thin Kumo ?! - Week 5 of April 2015.

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

Bears climb above the Tenkan Sen #W2.
Gap between the Tenkan Sen and Kijun Sen narrows drastically #W2.
Senoku Span A & B, gap narrow widens #W3.

Wrap: Bears close index above the Tenkan Sen, Thin Kumo was ineffective last week #W2.



Looking Forward into this Week:

Bears eye the Thin Kumo #W2 (Study Links here, here or elsewhere) for an opportunity to break into the Kumo.
Bearish Cross of Tenkan Sen & Kijun Sen, is next on Bear Agenda, even as the gap between these lines narrows even further #W2.
Chikou Span at current altitude, can meet up with the price line in a couple of weeks #W1.


Wrap: Bulls look to make new ATHs, Bears eye the Thin Kumo to help bring the Index down #W2. 

CNX Nifty 50 - Triple Screen 'Technical Analysis' - 3 Outside Down - Week 5 of April 2015.

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

Patterns:

• Index falls back from the Mid-Line of the Day Channel #D1, and slip out this Channel, even as Bears get their Medium Term 'Three Outside Down' #W1.
• A Long Term 'Three Outside Down' too, now looks possible - see last three candles #M1

Support & Resistance:

• Index falls from the Day channel's mid line #D1, to the 200 SMA.

Moving Averages: 

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

Indicators:

• MACD and its Histogram tick into sub-zero #D2.

Wrap:

Bears get a Medium Term 'Three Outside Down' #W1, and look at the same on the Long Term Screen too #M1.

Bulls get support at the 200 SMA #D1.

Looking Forward into this Week:

Patterns:

• A Bearish Engulfing is active on the Long Term Screen (Study Links here, here or elsewhere) #M1 
• Above can turn into a Three Outside Down (Study Links here, here or elsewhere) #M1 just like it did on the Weekly Charts #W1.

Support & Resistance:

• Index faces resistance at the April Wall (8343) and the 5 EMA (8525) on the Medium Term Chart #W1. 
• Support is available at the Month Chart's 13 SMA (8048) and the Day Chart's 200 SMA #D1.

Moving Averages: 

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

Indicators:

• Bulls hope that the TRD would take support at the 50% mark #M2.

Wrap :

Bulls look to get above 'The Wall' and clear 8491 to avert a Long Term 3 Outside Down #M1 .

Bears seek an April close, below 8491 (the March Close), triggering a long term Three Outside Down #M1 and maybe even a Death Cross (Study) #D1.

BSE Sensex - Ichimoku Study - Chikou Span Touch - Week 5 of April 2015.

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

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

Index below the Kijun Sen #W2, as bears manage a Lower High and almost an even low #W1.
Gap between the Senkou Span A & B  #W3 increases.
Gap between the Tenkan Sen & Kijun Sen decreases #W2.
Chikou Span at the Price line #W1, for the second time this year.


Wrap: 
Bears move Index below the Kijun Sen #W2.
Bulls manage to hold the Chikou Span above the Price Line #W1



Looking Forward into this Week:

Chikou Span at current altitude set cross the Price line Bearishly, unless the Bulls manage another deflection  #W1.
Narrowing gap between the Tenkan Sen & Kijun Sen, opens possibility of bullish deflection or bearish cross #W2.



Wrap:
Bulls aim for life above the Tenkan Sen. 
Bears look to push towards the Kumo once again, with a Bearish Chikou Span Cross #W2.

Say....

S&P 500 - Triple Screen 'Technical Analysis' - Range - Week 4 of April 2015.

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


Patterns:

• Index stays range bound with the range getting tighter with a Lower High and Higher Low #D1.
• March and February candles form a Bearish Harami, with April candle showing green - as of now #M1. 

Support & Resistance:

• Index reverses exactly from the resistance line made by the previous Highs #D1, while support was also precisely at the 13 SMA on the EOW #W1.

Moving Averages:  

• The all important, 5 EMA and 13 SMA, on the medium term screen, stay deflected Bullishly again last week #W1.

Indicators:

• RSI 13 is still in the 50s #W2.

Wrap:

Index again makes a lower high on the Day Chart, Bulls still on top #D1.

Looking forward into this Week:

Patterns:

• Bears Struggle to make a Long Term 'Three inside down' after the Bearish Harami - see last three candles #M1 (Study Links here, here or elsewhere). 
• Bulls look to History (re-look) #M1 & #M3, and the support at the 5 EMA #M1, for a resumption of the Bull run.

Support & Resistance: 

• 5 EMA on the EOW (2081) #W1, is the Index Support that Bears want to get below. 
• Bulls look to get out of this consolidation, with a break out above 2112, the last high on the Day Charts #D1.

Moving Averages:

• If the Index manages to close the week above 2059, the 5 EMA and the 13 SMA on the Weekly  Charts, would stay deflected Bullishly #W1.

Indicators:

• TSI, support at the 61.8% Fibonacci retrace, good for the Bulls #M2.

Wrap:

Bears after triggering a Long term Bearish Harami, look to convert it into a '3 inside down', by closing April below 2068 #M1.

Bulls want to get out of the current consolidation, with a break above 2112 and a push to the ATH #D1.

The Dow Jones - Ichimoku Study - Thinning Kumo ! - Week 4 of April 2015.

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

Bears close the week below the Tenkan Sen even as this line shoots up and runs into the Price line #W2.
Tenkan Sen and Kijun Sen, gap narrows #W2.
Senoku Span A & B, gap narrow widens #W3.
Thinning Kumo and Price line catch up #W2.

Wrap: Bears close index below Tenkan Sen even as  Thinning Kumo just below the Price line #W2.



Looking Forward into this Week:

Bears eye the Thinning Kumo #W2 (Study Links here, here or elsewhere) for an opportunity to break into the Kumo.
Bearish Cross of Tenkan Sen & Kijun Sen, at current range, next on Bear Agenda even as the gap between these lines narrows #W2.
Chikou Span at current altitude, can meet up with the price line in a couple of weeks #W1.


Wrap: Bulls look to get back above the Tenkan Sen Pronto, Bears eye the Thinning Kumo to help bring the Index down #W2. 

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Mid Life Crisis rewards - Week 4 of April 2015.

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

Patterns:

• Index falls back from the Mid-Line of the Day Channel #D1, and Bears reap some rewards  and enforce a Engulfing on the previous week's candle #W1.
• Bulls counter the Long Term 'Bearish Engulfing' with a green April candle - see last three candles #M1

Support & Resistance:

• Index falls from the Day channel's mid line #D1, to the Month Channel's mid line #M1.

Moving Averages: 

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

Indicators:

• STS stays below the over bought line #W2.

Wrap:

Bears hold the Nifty at the Mid point of the Day Channel and drive the index below the 13 SMA #D1.

Bulls still hold a green candle for April #M1, despite a Long Term 'Bearish Engulfing' #M1.

Looking Forward into this Week:

Patterns:

• A Bearish Engulfing is active on the Long Term Screen (Study Links here, here or elsewhere) #M1 and on the Medium Term Screen #W1.. 
• Above can turn into a Three Outside Down (Study Links here, here or elsewhere) #M1 and #W1, to be watched for.

Support & Resistance:

• Index faces resistance at the Day Channel's mid point #D1 and S1 on the Month Pivot #M1. 
• Support points available are the Month Channel's Mid-Line and the April Wall (8343) #W1.

Moving Averages: 

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

Indicators:

• Bulls look forward to the MACD on the Short term screen staying above the zero mark #D.

Wrap :

Bulls look to get above the Daily Channel's mid point #D1 and head for the ATH.

Bears hope for an April close below 8491 (the March Close), triggering a long term Three Outside Down #M1 and like wise this week's close below 8606 #W1.