US - S&P 500 - Triple Screen 'Technical Analysis' - Flag 2 - Week 5 of September 2015.

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

Patterns:

• The Flag seen on the Daily Chart, yet to resolve completely - advantage Bears as of last week #D1.  
• The Pin bar that formed the previous week, produces a long red candle #W1.

Support & Resistance:

• Index took support around the previous low #D1 - it was resisted by the 13 SMA on the Daily Charts #D1.

Moving Averages:  

• The 5 EMA and 13 SMA, on the day screen, is now crossed Bearishly #D1.

Indicators:

• RSI 13, after meandering in the middle of the range for a year, is struggling to make bounce off the oversold line #W2.  

Wrap:

Bears regain control of all three screens by end week, Bulls hold off at the last low #W1.

Looking forward into this Week:

Patterns:

• 'Flag' on the Day Chart is active (Study Links here, here or elsewhere) #D1.

Support & Resistance: 

• MVWAP 34 on the long term screen (once again) is the support that Bulls want to stay above #M1. Index has resistance at the Orange Bottom of the Weekly Channel  #W1. 

Moving Averages:

• Death Cross on the EOD, is active as long as the 50 SMA and the 200 SMA stay crossed Bearishly (Study Links here, here or elsewhere) #D1,

Indicators:

• TSI slips below the 50% retrace #M2.

Wrap:

Bulls and Bears, now seek full resolution of the range defined by the Flag #D1, this week.

Europe - CAC 40 - Ichimoku Study - Kumo Crash - Week 5 of September 2015.

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

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

After the Bears closed the week inside the Kumo, Index crashes below it and recovers to close inside the Kumo again #W2.

Chikou Span finds support around the Kijun Sen - helping the Bulls come back #W1.

Gap between the Senkou Span A & B, steady #W3.

Gap between the Tenkan Sen and Kijun Sen narrow, but steady #W3.

Wrap: 

Bears crash the index way below the Kumo, Bulls hold the Chikou Span at the Kijun Sen and make a come back #W2.

Looking Forward into this Week:

Chikou Span is crossed  below the Price line (Its called a 'Weak Bearish cross because it occurred when the index was Bullish i,e above the Kumo) and is finding support at the Kijun Sen #W1.

Index getting out of the Kumo with a Bullish Breakout, is the next Bull hope #W2.

The narrow gap between the Tenkan Sen and the Kijun Sen, good for Bulls, as a re-cross is easier #W2.

Wrap:

Bears on top, with the index floating into the Kumo #W2. 
Bulls after their comeback, need to get above of it.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - High Wave Stall - Week 5 of September 2015.

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

Patterns:

• Index falls by 300 points after the Bull attempt, to clear the mark (76.4% Fibo retrace (8040) shown on the EOW #W1.) stalls around 8020.
• High wave candle for the week, as Bears come back, settling above the support we studied - the 13 SMA on the EOD #D1.

Support & Resistance:

• The 76.4% Fibo retrace shown on the EOW  was resistance #W1. The 13 SMA on the EOD was clear support #D1.
• This month's candle, spans the 76.4% Fibonacci retrace of the '2008 low' to the 'All Time High' (ATH) and the Month Pivot #M1

Moving Averages: 

• The critical 5 EMA, remains Bullishly crossed above the 13 SMA on the day charts #D1.

Indicators:

• On the Month chart, TRD now hangs above the Fibonacci 38.2% mark #M2.

Wrap:

Bears fall sharply at the 76.4% Fibonacci retrace of the '2011 low' to the 'All Time High' (ATH) #W1.
Bulls retain control of the Short Term Screen after a comeback from the daily 13 SMA #D1.

Looking Forward into this Week:

Patterns:

• Bearish H&S pattern reaching target #W1, remains a possibility if the Neckline is held by the Bears (Study Links here, here or elsewhere). 
• High Wave Candles on the Week and maybe Month Chart needs attention (Study Links here, here or elsewhere).

Support & Resistance:

• Support is at 7484, the 76.4% Fibonacci retrace of the '2008 low' to the 'ATH'  and resistance continues at 8040, the 76.4% Fibonacci retrace of the '2011 low' to the 'ATH'  #W1.

Moving Averages: 

• The Death Cross (50 and 200 SMA) is active, these MAs are diverging #D1.

Indicators:

• The STS, crossing above its MA, is good for Bulls #W2.

Wrap :

Bulls look to hold on to the bullish cross of the 5 EMA & 13 SMA #D1, and break above 8040 #W1. 
Bears seek life below 7484.

China - SSEC - Ichimoku Study - Kumo Life- Week 5 of September 2015.

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

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

Chikou Span turns down below the Price line and gets support around the Kijun Sen #W1.

Bull attempt to bounce out out the Kumo thwarted and index closes in the Kumo again #W2. 
Gap between the Senkou Span A & B, narrows further, to touch point #W3.

Wrap: 

After the bearish Chikou Span cross, Index floats into the Kumo #W1.

Bulls use the Chikou Span Support at the Kijun Sen #W1 to make a green week #W2.

Looking Forward into this Week:

Bearish Kumo Breakout happens #W2.
After the Bearish Chikou Span Cross (its called a 'weak bearish signal' as it occurred when the index was Bullish i,e. above the Kumo) support at the Kijun Sen raises Bull hope of a comeback #W1.
Gap between the Senkou Span A & B at #W3, is near closing - a Bullish Deflection or Bearish Cross imminent.

Wrap:

A Bearish Senoku Span cross & life inside the Kumo #W3, are what the Bears need, to keep their advantage.

Getting back above the Kumo #W2, with support for the Chikou Span at the Kijun Sen #W1, is the Bull strategy for a comeback.

Brent Crude Oil - Ichimoku Study - Hold - Week 5 of September 2015.

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

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

Bears hold the Tenkan Sen #W2.
Chikou Span points up and takes aim for the price line #W1.
Gap between the Senkou Span A & B,  wide and steady #W3.
Gap between Tenkan Sen and Kijun Sen, widens some more #W2.


Wrap: 
Bulls, knock on the Tenkan Sen once again refusing to fall further #W2. 
Stoic Bears manage defend the Tenkan Sen, despite a green week #W2.


Looking Forward into this Week:


Chikou Span reaching the Price line, would take a couple of weeks at current rate, this is good for Bears #W1.
Gap between the Senkou Span A & B is wide at #W3 & above the last Price point, making a thick Kumo - and a strong resistance to an up-move #W3.
Index closing above the 'Tenkan Sen', is what Bulls are aiming for #W2.


Wrap:
Staying above the previous low, and breaking above the Tenkan Sen #W2, is the next Bull task.
Stoic Bears defend the Tenkan Sen, but fail to prevent a green week #W1.

Say....

S&P 500 - Triple Screen 'Technical Analysis' - Flag - Week 4 of September 2015.

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

Patterns:

• The Pennant is seen on the Day Charts, morphs into a Flag #D1.  
• A Pin bar forms on the Weekly Charts as a result #W1.

Support & Resistance:

• Index took support above the 13 SMA on the Day Screen by weekend #D1 - it was resisted by the MVWAP 34 on the Daily Charts #D1 as studied.

Moving Averages:  

• The 5 EMA and 13 SMA, on the day screen, are again crossed Bullishly by end of last week #D1.

Indicators:

• RSI 13, after meandering in the middle of the range for a year, is currently attempting a bounce off the oversold line #W2.  

Wrap:

Bulls give up their initial advantage to the Bears, by end week, to produce a Pin bar #W1.

Looking forward into this Week:

Patterns:

• 'Flag' on the Day Chart is active (Study Links here, here or elsewhere) #D1.
• 'Pin bar' on the Weekly Charts also worth a study (Study Links here, here or elsewhere) #D1.

Support & Resistance: 

• MVWAP 34 on the long term screen (once again) is the support that Bulls want to stay above #M1. Index has resistance at the Orange Bottom of the Weekly Channel  #W1. 

Moving Averages:

• Death Cross on the EOD, is active as long as the 50 SMA and the 200 SMA stay crossed Bearishly (Study Links here, here or elsewhere) #D1,

Indicators:

• TSI slips below the 50% retrace #M2.

Wrap:

Bulls and Bears, now seek resolution of the range defined by the Flag #D1, this week.

Europe CAC 40 - Ichimoku Study - Kumo Pull - Week 4 of September 2015.

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

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

Bears close the week inside the Kumo #W2.

Chikou Span crossed below the Tenkan Sen, well below the Price line #W1.

Gap between the Senkou Span A & B, steady #W3.

Gap between the Tenkan Sen and Kijun Sen narrow, but steady #W3.

Wrap: 

Bulls lose advantage, as Bears close inside the Kumo last week #W2.

Looking Forward into this Week:

Chikou Span is crossed  below the Price line (Its called a 'Weak Bearish cross because it occurred when the index was Bullish i,e above the Kumo) #W1.

Index getting above the Kumo, is the next Bull hope #W2.

The narrow gap between the Tenkan Sen and the Kijun Sen, good for Bulls, as a re-cross is easier #W2.

Wrap:

Bears on top, with the index floating into the Kumo #W2. Bulls have this week, to manage a bounce out of it.

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Pullback to Neckline - Week 4 of September 2015.

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

Patterns:

• Bulls pullback to the Neckline of the Head & Shoulder (H&S) formation #W1, after bouncing off the Day Channel's Bottom previously #D1.

Support & Resistance:

• The 76.4% Fibo retrace shown on the EOW  was resistance, as was the H&S Neckline #W1. The 5 EMA on the EOD was constant support #D1.

Moving Averages: 

• The critical 5 EMA and 13 SMA, on the EOD, crossed over Bullishly at our mark on Monday last, and remains so by week close #D1.

Indicators:

• On the Month chart, TRD now hangs above the Fibonacci 38.2% mark #M2.

Wrap:

Bears force a stop at the H&S pattern's neckline #W1.
Bulls claim another green week and take control of the Short Term Screen #D1.

Looking Forward into this Week:

Patterns:

• Bearish H&S pattern reaching target #W1, remains a possibility if the Neckline is defended by the Bears (Study Links here, here or elsewhere). 
• Pullback and its implications need watching (Study Links here, here or elsewhere).

Support & Resistance:

• Bulls look to take support at the 13 SMA on the EOD #D1 and break the resistance at the 76.4% Fibo retrace (8040) shown on the EOW (arrow) #W1.

Moving Averages: 

• The Death Cross (50 and 200 SMA) is active and thriving #D1.

Indicators:

• The STS, staying below the oversold line, is good for Bears #W2.

Wrap :

Bulls look to maintain the bullish cross of the 5 EMA & 13 SMA #D1, and break above H&S pattern's neckline this week #W1.
Bears after applying brakes to the index at the H&S pattern's neckline #W1, seek a red week.