US - S&P 500 - Triple Screen 'Technical Analysis' - Handle Channel - Week 5 of December 2015.

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

Patterns:.

• The combination of the Big 'W' and the new Day Channel #D1, make a neat 'Cup and handle' pattern. Price oscillating in the Handle (or Day Channel) #D1 for the past couple of weeks.

Support & Resistance:

• Index again took off from support at the Channel bottom on the Day Chart #D1 - it  again faced resistance at the daily 34 MVWAP #D1.

Moving Averages:  

• The 5 EMA and 13 SMA, on the Weekly Screen remains crossed bearishly, with the index below 2088 #W1.

Indicators:

• RSI 13, above the 50s  #W2.  

Wrap:

Bears again hold the index to a lower high #D1.

Bulls keep index in the 'Handle' of the 'Cup and Handle' pattern #D1.

Looking forward into this Week:

Patterns:

• The 'W' pattern on the Day Chart is still in play (Study Links here, here or elsewhere) #D1.
• A 'Cup and Handle' pattern is active on the charts #D1, #W1 & #M1 (Study Links here, here or elsewhere) so long as a Handle is viable on any relevant time frame.

Support & Resistance: 

• Day Channel bottom (pink) #D1 is support.  Index Resistance for a Bull break through is the is the Day Channel's Top #D1,

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:

• STS in middle ground #D2.

Wrap:

Bulls hope for rewards from the big 'W' pattern #D1, with a breakout from the ATH #M1.
Bears push for a breakdown at the handle or the Day Channel #D1..

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Piercing rewards - Week 5 of December 2015.

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

Patterns:

• The previous week, the index showed the Bulls a 'Piercing Pattern', last week saw rewards for the Bulls - a green week #W1.

Support & Resistance:

• Index found support around the week channel bottom #W1, with resistance below the daily 50 SMA #D1.

Moving Averages: 

• The critical 5 EMA and 13 SMA, stay crossed Bullishly on the Day Chart #D1.

Indicators:

• On the week charts the STS #W1, continues to dwell in the over sold zone, despite the recent green on the screen.

Wrap:

Bulls take off from support at the Week Channel's bottom and  enjoy the rewards of the Piercing Pattern #W1.
Bears defend the Daily 50 SMA #D1.

Looking Forward into this Week:

Patterns:

• Piercing Pattern (Study Links here, here or elsewhere) is active on the Medium Term Chart #W1.
• The Shooting Star, active (Study Links here, here or elsewhere) on the Month Screen #M1, needs attention as we head to the month end.

Support & Resistance:

• Index has immediate support at the S2 of the Month Pivot #M1. Resistance is at the daily 50 SMA #D1.

Moving Averages: 

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

Indicators:

• The STS is in the oversold, a concern for the Bulls #W2.

Wrap :

Bears seek to shoot the index below the Week Channel bottom (green) line #W1.

Bulls aim for life above the daily 50 SMA #D1.

Brent Crude Oil - Ichimoku Study - Pause - Week 5 of December 2015.

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

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

Bulls get a pause after the new low with a green week #W2.
Gap between the Senkou Span A & B, steady #W3.
Gap between Tenkan Sen and Kijun Sen, steady #W2.

Wrap: 
After the Index makes a lower low, Bulls get a pause with a green week.


Looking Forward into this Week:

Chikou Span reflects the green week - its a long way from the price line  #W2.
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, when we get there #W3.
Senoku Span A & B, headed for a cross or deflection with these lines getting closer #W1.


Wrap:
Bears look to keep the index below the Tenkan Sen, and make some more lower lows #W2.
An oversold bounce or a bullish cross of the Senoku Span A & B #W3, is the next Bull hope.

Say....

US - S&P 500 - Triple Screen 'Technical Analysis' - Cup and Handle?! - Week 4 of December 2015.

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

Patterns:.

• The combination of the Big 'W' and the new Day Channel #D1, make a neat 'Cup and handle' pattern.

Support & Resistance:

• Index again took support at the Channel bottom of the Day Chart #D1 - it faced resistance at the daily 34 MVWAP #D1.

Moving Averages:  

• The 5 EMA and 13 SMA, on the Weekly Screen poised to cross bearishly, with index below 2087 #W1.

Indicators:

• RSI 13, now back to the 50s  #W2.  

Wrap:

Bears ensure the index does lower highs #D1.

Bulls keep index in the 'Handle' of the 'Cup and Handle' pattern #D1.

Looking forward into this Week:

Patterns:

• The 'W' pattern on the Day Chart is still in play (Study Links here, here or elsewhere) #D1.
• A 'Cup and Handle' pattern is active on the charts #D1, #W1 & #M1 (Study Links here, here or elsewhere) so long as a Handle is viable on any relevant time frame.

Support & Resistance: 

• Day Channel bottom (pink) #D1 is support.  Index Resistance is the Week Channel's Bottom line (orange) #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:

• STS perks up from the over bought line #D2.

Wrap:

Bulls hope for rewards from the big 'W' pattern #D1, with a breakout from the ATH #M1.
Bears push for a breakdown at the handle or the Day Channel #D1..

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bull Piercing - Week 4 of December 2015.

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

Patterns:

• The previous week the index hit support at the medium term Channel bottom, last week saw the Bulls celebrate with a green piercing candle #W1.

Support & Resistance:

• Index found support around the previous week's low, with resistance at the 5 EMA Weekly #W1.

Moving Averages: 

• The critical 5 EMA and 13 SMA, cross Bullishly on the Day Chart #D1.

Indicators:

• On the week charts the STS #W1, continues to dwell in the over sold zone.

Wrap:

Bulls take support at the Week Channel's bottom and pierce their way back into the Channel #W1.
Bears defend the Weekly 5 EMA #W1.

Looking Forward into this Week:

Patterns:

• Piercing Pattern (Study Links here, here or elsewhere) is active on the Medium Term Chart #W1.
• Shooting Star, is active (Study Links here, here or elsewhere) on the Long Term Screen #M1 for December.

Support & Resistance:

• Index has immediate support at the S2 of the Month Pivot #M1. Resistance is at the weekly 50 SMA #W1.

Moving Averages: 

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

Indicators:

• The STS is in the oversold, a concern for the Bulls #W2.

Wrap :

Bears want a weekly close, below the Week Channel bottom (green) line #W1.
Using the piercing pattern, Bulls aim for the weekly 50 SMA #W1.

China - SSEC - Ichimoku Study - Kumo Resists - Week 4 of December 2015.

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

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

Index takes support at the Tenkan Sen, with the Kumo giving precise resistance #W2.
Chikou Span points to the price line #W1.

Senkou Span A & B, are crossed Bearishly and diverge #W3.

Wrap: 

Index steadies with support around the Tenkan Sen #W2.
Bear send back the index at the Kumo #W2.

Looking Forward into this Week:

Bearish Senoku Span Cross is active (Its called a 'Neutral' Bearish cross, because it occurred when the index was on Neutral territory i.e inside the Kumo) #W3.
Bears intend to keep the index out of the Kumo #W2,.
Bulls continue to need the Tenkan Sen support #W2.

 

Wrap:

Bears push for a continuation of the down trend, with resistance at the Kumo #W2.

Bulls seek life in the Kumo with support at the Tenkan Sen W2 .

Brent Crude Oil - Ichimoku Study - Lower Lows 2 - Week 4 of December 2015.

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

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

Bears force an even lower low after the index tests the previous low #W2.
Gap between the Senkou Span A & B, narrowing #W3.
Gap between Tenkan Sen and Kijun Sen, steady #W2.

Wrap: 
Bears take the index sharply lower after the retest, Index makes a lower low #W2. 



Looking Forward into this Week:

Bears make an even lower low  #W2.
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, when we get there #W3.
Senoku Span A & B, headed for a cross or deflection with these lines getting closer #W1.


Wrap:
Bears look to keep the index below the Tenkan Sen, and make some more lower lows #W2.
A bullish cross of the Senoku Span A & B #W3, is the next Bull hope.

Say....

US - S&P 500 - Triple Screen 'Technical Analysis' - Cup and Handle? - Week 3 of December 2015.

 

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

Patterns:.

• Index after a couple of Dojis, crashes to support #W1.
• The combination of the Big 'W' and the new Day Channel #D1, make a neat 'Cup and handle' pattern.

Support & Resistance:

• Index again took support at the Channel bottom of the Day Chart #D1 - it failed to make upward progress from previous week's Doji's close #D1.

Moving Averages:  

• The 5 EMA and 13 SMA, on the Weekly Screen poised to cross bearishly or deflect Bullishly #W1.

Indicators:

• RSI 13, hesitates and falls at the oversold mark  #W2.  

Wrap:

Bears keep the index below the Week Channel bottom (orange) once again #W1.

Desperate Bulls produce the 'Handle' of the 'Cup and Handle' pattern with the Day Channel action #W1.

Looking forward into this Week:

Patterns:

• The 'W' pattern on the Day Chart is still in play (Study Links here, here or elsewhere) #D1.
• A 'Cup and Handle' pattern is active on the charts #D1, #W1 & #M1 (Study Links here, here or elsewhere) so long as a Handle is viable on any relevant time frame.

Support & Resistance: 

• Day Channel bottom (pink) #D1 is support.  Index Resistance is the Week Channel's Bottom line (orange) #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:

• STS touches the over bought line #D2.

Wrap:

Bulls hope for rewards from the big 'W' pattern #D1, with a breakout from the ATH #M1.
Stoic Bears use the resistance at the Week Channel bottom (orange) #W1 to send the index down #D1 potentially forming a 'Cup and Handle Pattern'.