Monday, September 28, 2015

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:
    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 herehere 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 herehere or elsewhere). 
    • High Wave Candles on the Week and maybe Month Chart needs attention (Study Links herehere 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.

    Saturday, September 26, 2015

    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....





    Monday, September 21, 2015

    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 herehere or elsewhere) #D1.
      • 'Pin bar' on the Weekly Charts also worth a study (Study Links herehere 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 herehere 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 herehere or elsewhere). 
      • Pullback and its implications need watching (Study Links herehere 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.