S&P 500 - Triple Screen 'Technical Analysis' - History Repeats - Week 2 of February 2015.

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


Patterns:

• Index closed last month below the 5 EMA on the Long Term Charts #M1, this sub 5 EMA close occurred after about 3 years - see pink arrow #M3 - however History repeats as Bulls come back with a green month #M1.
• Bear hope up, as Month Charts see a 'Three Inside Down' - #M1.

Support & Resistance:

• Bulls close the index just above the 13 SMA on the weekly charts, after taking off from the MVWAP 34  on the same chart #W1.

Moving Averages:  

• The 5 EMA and 13 SMA, on the medium term screen, remain Bearishly Crossed  #W1.

Indicators:

• RSI 13 around the 50s #W2.

Wrap:

Bears trigger a Long Term Three Inside Down last month #M1.

Bulls come back with a long green candle for February - History repeats? #M3.

Looking forward into this Week:

Patterns:

• Bears produce a 'Three Inside Down' #M1 on the Long Term Screen (Study Links here, here or elsewhere).
• A failed 'Three inside down', which we studied about three years ago (here and here) - was seen when the Index slipped below the 5 EMA, the last time (pink arrow #M3). Exact set-up seen now - so that is worth a study #M1.

Support & Resistance: 

• MVWAP 34 on the EOW #W1 and the Monthly 5 EMA (2013), are supports the Bulls look to keep above, this week.
• 2050 (13 SMA on the Week Chart #W1) and 2080 are levels, which Bears would want to stay below.

Moving Averages:

• The 5 EMA and 13 SMA on the Medium Term Charts stay crossed bearishly as long as the index is below 2080 #W1.

Indicators:

• TSI, slipping below the 76.4% Fibonacci retrace, cheers the Bears #M2.

Wrap:

Bulls hope History would repeat itself in February, and another Bull run would emanate from the current set-up #M1.
Bears seek get back below the 5 EMA on the Long Term Charts #M1, to prevent the above.

The Dow Jones - Ichimoku Study - Yo Yo at the Tenkan - Week 2 of February 2015.

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

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

Index Yo Yos at the Tenkan Sen, for the 4th week #W2.
Tenkan Sen and Kijun Sen flat and gap steady #W2.
Senoku Span A & B gap narrows drastically #W3.
Chikou Span bounces of near the Price line #W1.


Wrap: Index back above the Tenkan Sen  #W2.




Looking Forward into this Week:

Bear journey back to the Kumo, hemmed by the Kijun Sen #W2.
Bearish Cross of Tenkan Sen & Kijun Sen, at current range, next on Bear Agenda #W2.
Chikou Span Deflection off the Index, shows the Bears losing the advantage #W2.


Wrap: Bulls look to stay above the Tenkan Sen, the Bear's target life below the Kijun Sen Sen #W2. Both look to break out of the current range.

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Channel Top Resistance - Week 2 of February 2015.

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

Patterns:

• The Top of the Weekly Channel - which we had been waiting on from April 2014 (post) keeps the Bulls down #W1. 
• 'Bullish Engulfing' on the Long Term Charts, becoming a Three Outside Up, still some distance away #M1.

Support & Resistance:

• Bears get 5 in a row, as all days of last week, see the Index closing below the 5 EMA on the Day Chart #D1.
• Bulls get support on the Monthly Pivot #M1 and the 5 EMA on the EOW #W1.

Moving Averages: 

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

Indicators:

• STS stays in the over bought #W2.

Wrap:

Bulls find support at the Monthly Pivot after our long watched Weekly Channel Top resists the current up-move #M1. 
Bears prevent a Three outside Up possibility, by keeping the index below 8809  #W1.

Looking Forward into this Week:

Patterns:

• Channel Top resistance of the Medium Term Channel, important for Bears #W1.
• 'Bullish Engulfing' on the Long Term Charts, becoming a Three Outside Up (Study Links here, here or elsewhere) to be watched for #M1.

Support & Resistance:

• Index resistances that the Bulls would want to get above this week, are the Wall for February 8952 and the 5 EMA on the EOD #D1.
• Support Levels that the Bears would seek get below, are 8636 (5 EMA on the Weekly Charts) and 8480 (13 SMA on the Weekly Charts).

Moving Averages: 

• Golden Cross (study here, here or elsewhere) of the 50 & 200 SMA is on - these MA's are currently converging #D1.

Indicators:

• STS, staying above the overbought line, demonstrates the Bull domination of the Medium and Long Term Screens #W2.

Wrap :

Staying below the Daily 5 EMA, Bears seek to get stronger and get below the EOD channel's Mid-line #D1
Bulls look forward to a Three Outside Up triggering, with a February Close above 8809 #M1.

BSE Sensex - Ichimoku Study - Breakout Paused - Week 2 of February 2015.

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

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

Index  goes red for the second week, giving the Bears hope of reaching the Tenkan Sen #W2.
Senkou Span A & B - gap steady #W3.
The gap between Tenkan Sen and Kijun Sen narrows #W2


Wrap: Index heads back towards the range (around the Tenkan Sen and the Kijun Sen) - with another red week #W2



Looking Forward into this Week:

A Bearish, Chikou Span cross with Price line, at current altitude, will need a few more months #W1.
Tenkan Sen and Kijun Sen set to cross bearishly if current rate of fall, continues for the next few weeks #W2.


Wrap: Bulls look to get back to the All Time Highs (ATH), whereas Bears look at moving the index below the 'Tenkan Sen - Kijun Sen' range #W2.