Say....

S&P 500 - Triple Screen 'Technical Analysis' - ATH Skirmish - Week 4 of May 2015.

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

Patterns:

• Index peeps out of the Ascending Triangle, makes a new high, throws back to the old ATH, on its trip towards the Day Channel's top line #D1.

Support & Resistance:

• Index closes at the previous ATH (All Time High) resistance #M1 & #D1, while support was around the 5 EMA on the EOD #D1.

Moving Averages:  

• The all important, 5 EMA and 13 SMA, on the medium term screen, continue to stay deflected bullishly #W1.

Indicators:

• RSI 13 is in the 50s #W2.

Wrap:

Bulls struggle to keep it above the previous ATH #D1, while the Bears could not take it below the 5 EMA on the EOD #D1.

Looking forward into this Week:

Patterns:

• Ascending Triangle and its behaviour, (on the Day Chart) worth a study (Study Links here, here or elsewhere) #D1.
• Bulls look to repeat History (re-look) #M1 & #M3, they need to break-out and stay above the Day Channel Top #D1 to help that cause.

Support & Resistance: 

• 5 EMA on the EOM (2063) #W1, is the Index Support that Bears want to get below. 
• Bulls seek to clear the ATH line #M1 and the Day Channel top line 2151 #D1, this week.

Moving Averages:

• Bulls by closing this Week above 2040, get to keep the 5 EMA above the 13 SMA on the Weekly Charts  #W1.

Indicators:

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

Wrap:

Bulls, back inside the ascending triangle, look for a breakout and a resumption of the Bull run #D1.

Bears after hedging in the Bulls, look for a close below 2063 to get back in the red #M1.

The Dow Jones - Ichimoku Study - ATH in red - Week 4 of May 2015.

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

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

After the Index found support at the Kijun Sen previously,it makes a new ATH last week #W2.
Gap between the Tenkan Sen and Kijun Sen steady #W2.
Senoku Span A & B, gap steady #W3.

Wrap: Index makes a new All Time High (ATH), Bears manage a red week despite the ATH.



Looking Forward into this Week:

Bears eye the dwindling Thin Kumo #W2 (Study Links here, here or elsewhere) for an opportunity to dive into the Kumo.
Cross of Tenkan Sen, to below the Kijun Sen, is next on Bear wishlist #W2.
Chikou Span at current altitude, can meet up with the price line in a couple of months #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' - Pull-back Touch - Week 4 of May 2015.

 

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

 

Patterns:

• Index, after triggering a long term Three Outside Down #M1 - bounces off the week channel's blue mid-line #W1 and climbs above the 38.2% Fibonacci retrace (8424) 'of the May 2015 low to the ATH'  #D1 
• Bulls almost complete the Pull-back to the Day Channel's green bottom-line #D1..
• The twin 'High Wave' candles on the week chart, produces a massive green candle #W1.

Support & Resistance:

• Index takes support above the 38.2% Fibonacci retrace (8424) 'of the May 2015 low to the ATH'  #D1  after clearing the weekly 50 SMA #W1.
• Resistance was at the Weekly 13 SMA #W1, and the daily 50 SMA #D1.

Moving Averages: 

• The critical 5 EMA and 13 SMA on the Monthly charts, are close enough for a Bullish deflection or a Bearish cross #W1.

Indicators:

• MACD crosses its MA and its Histogram stays above the zero line #D2.

Wrap:

Bulls after taking support the Mid-line of the Medium Term Chart #W1, retrace 38.2% of the move from the 'ATH to the May 2015 bottom' #D1.

Bears defend the daily 50 SMA #D1 and halt the pull-back near the green bottom line of the Day Channel #D1..

Looking Forward into this Week:

Patterns:

• The Pull-Back (Study Links here, here or elsewhere) to the old Day Channel's green bottom,  is almost done - Bears look to take over #D1. 
• A Three Outside Down (Study Links here, here or elsewhere) #M1 is active on the long term chart.
• The Fibonacci retrace from the ATH to the May 2015 bottom and its retrace possibilities are worth a study (Study Links here, here or elsewhere).

Support & Resistance:

• Bulls face resistance at the Day Chart's 50 SMA #D1 and the 61.8% Fibonacci retrace (8686) 'of the May 2015 low to the ATH'  #D1  
• Support is available, at the Week Channel's blue mid-line #W1 and the 38.2% Fibonacci retrace (8424) 'of the May 2015 low to the ATH'  #D1 

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 hope that the TRD would take support at the 50% mark, this month #M2.

Wrap :

Bulls look to stay above the 38.2% Fibonacci retrace (8424) 'of the May 2015 low to the ATH' and break into the green bottom of the Day Channel #D1 .

Bears, after triggering a long term Three Outside Down #M1 - want to get the momentum back with a post pull-back fall, to below the 76.8% Fibonacci retrace (8040) #W1. 

BSE Sensex - Ichimoku Study - Tenkan Sen reTaken - Week 4 of May 2015.

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

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

Index stays below the Kijun Sen, touches the Chikou Span and above the Tenkan Sen #W2.
Gap between the Senkou Span A & B  low and steady #W3.
Tenkan Sen is below the Kijun Sen #W2.


Wrap: 
Bears hold on to a Chikou Span Cross and Bearish Tenkan Sen-Kijun Sen Cross #W1 &W2.
Bulls find support at the Kumo and retake the Tenkan Sen #W1.



Looking Forward into this Week:

Chikou Span can recross the Price line Bullishly, if this Bounce lasts long enough #W1.
Narrowing gap between the Senkou Spand A &B, makes a bullish deflection or bearish cross, possible #W3.
Bull hope rests on staying above the rather thick Kumo (Study Links here, here or elsewhere) #W2.



Wrap:
Bulls fight to stay above the thick Kumo, in Bull territory, as all the Red Crosses on the Screen are deemed 'weak'. 
Bears look to push into the Kumo, with the Bearish Tenkan Sen & Kijun Sen Cross helping them along #W2.

Say....

S&P 500 - Triple Screen 'Technical Analysis' - ATH Nudge - Week 3 of May 2015.

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

Patterns:

• Ascending Triangle formed with the ATH line and the Day Channel's bottom keeps index hedged in, even as it nudges this line last week #D1.

Support & Resistance:

• Index sees resistance at 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, continue to stay deflected bullishly #W1.

Indicators:

• RSI 13 is back to the 50s now #W2.

Wrap:

Bulls struggle to get above the ATH #D1, while the Bears fail to make a significant lower low - position wise it remains advantage Bulls.

Looking forward into this Week:

Patterns:

• Ascending Triangle on the Day Chart worth a study (Study Links here, here or elsewhere) #D1.
• Bulls look to repeat History (re-look) #M1 & #M3, and seek to break-out and stay above the Day Channel Top #D1 to help that cause.

Support & Resistance: 

• 5 EMA on the EOW (2112) #W1, is the Index Support that Bears want to get below. 
• Bulls seek to clear the ATH line and the Day Channel top line, this week #D1.

Moving Averages:

• Bulls have to close this Week above 2077, to keep the 5 EMA above the 13 SMA on the Weekly Charts  #W1.

Indicators:

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

Wrap:

Bulls, stuck inside an ascending triangle, look for a breakout and a resumption of the Bull run #D1.

Bears after hedging in the Bulls, hope to close the week below 2077, to get back into the game.

The Dow Jones - Ichimoku Study - Tenkan Sen Support - Week 3 of May 2015.

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

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

After the Index found support at the Kijun Sen previously, it takes off from the Tenkan Sen last week #W2.
Gap between the Tenkan Sen and Kijun Sen widens #W2 - advantage Bulls.
Senoku Span A & B, gap steady #W3.

Wrap: Index shoots above the Tenkan Sen, Bears hold it at the ATH.



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.
Cross of Tenkan Sen, to below the Kijun Sen, is next on Bear wishlist #W2.
Chikou Span at current altitude, can meet up with the price line in a couple of months #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' - 76.8% Fibo Supports - Week 3 of May 2015.

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

Patterns:

• Bears, after triggering a long term Three Outside Down #M1 - touch the 76.8% Fibonacci retrace 'of the 2011 low to the ATH' #W1 and keep the index below the daily 200 SMA #D1. 
• Bulls make a minor Pull-back to new Day Channel's mid-line #D1, then close above the weekly 50 SMA, and produce another weekly 'High Wave' candle #W1.

Support & Resistance:

• Index takes support at the 76.8% Fibo retrace #W1 and the mid-line of the Medium Term Channel to close above the 50 SMA #W1. 
• Resistance was around the Weekly 5 EMA #W1, and the new Day Channel's mid-line #D1.

Moving Averages: 

• The critical 5 EMA and 13 SMA on the Monthly charts, are close enough for a Bullish deflection or a Bearish cross #W1.

Indicators:

• MACD crosses its MA and its Histogram ticks above the zero #D2.

Wrap:

Bears take support the Mid-line of the Medium Term Chart with a green week, after returning from the Top a couple of months ago #W1..

Bulls fight back to produce another 'High Wave' candle, and close above the Wall and the 50 SMA #W1.

Looking Forward into this Week:

Patterns:

• A proper Pull-Back (Study Links here, here or elsewhere) towards the old Day Channel's green bottom,  is again on the wish list, of the Bulls #D1. 
• A Three Outside Down (Study Links here, here or elsewhere) #M1 is active on the long term chart.
• The twin 'High Wave' candle's effect on this week's action is worth a study (Study Links here, here or elsewhere).

Support & Resistance:

• Bulls face resistance at the Day Chart's 200 SMA #D1 and the 13 SMA (8468) on the Medium Term Chart #W1. 
• Support is available, at the 76.8% Fibonacci retrace (8040) 'of the 2011 low to the ATH' and the weekly 50 SMA (8232) #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 hope that the TRD would take support at the 50% mark, this month #M2.

Wrap :

Bulls look to stay above 'The Wall' and break into the green bottom of the Day Channel #D1 .

Bears, after triggering a long term Three Outside Down #M1 - want to keep the momentum going to again break, and stay below, the 76.8% Fibonacci retrace (8040) #W1.