- Bear hope up, after November and December Candles form Bearish Harami. Last three Monthly Candles now make a 'Three Inside Down' - for now - #M1.
- Possibility of a Stick Sandwich Pattern on the EOW Charts #W1.
Support & Resistance:
- Bears close the index below our marks of 2062 or 2059 last week - Bulls close the index above all the MAs that we track on the screens above.
Moving Averages:
- 5 EMA and 13 SMA, on the medium term screen, edges into a mild Bearish Cross, as Index fails to make 2062 #W1.
Indicators:
- RSI 13 in the 60s #W2.
Wrap:
Bears maintain hopes of a Long Term Three Inside Down by closing marginally below 2059 #D1.
Bulls make it above all the MAs that we track.
Looking forward into this Week:
Patterns:
- Bearish Harami is now active on the Long Term Screen and could trigger a 'Three Inside Down' #M1 (Study Links here, here or elsewhere).
- Stick Sandwich Pattern (Study Links here, here or elsewhere) could activate if, the current week, closes around the close, of the week before last week #W1.
Support & Resistance:
- 13 SMA on the EOW (2051) #W1 and the Monthly 5 EMA (2023), are supports the Bulls look to keep above, this week.
- 2065 and 2059 are resistance for the index, which Bears would want to stay below
- The 5 EMA and 13 SMA on the Medium Term Charts stay crossed bearishly as long as the index is below 2065 #W1.
Indicators:
- TSI, staying above the 76.4% Fibonacci retrace , keeps the Bull Hope up #M2.
Wrap:
Bulls seek to deny the Bears a Long Term 'Three Inside Down' by reaching & staying above 2059 #M1.
Bears look to get below the last low on the EOD, and crack the 200 SMA #D1.
Bears look to get below the last low on the EOD, and crack the 200 SMA #D1.
