The Dow Jones - Ichimoku Study - Thinning Kumo 2 - Week 3 of March 2015.

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

Bears take the index down below the Tenkan Sen, following last couple of red Dojis #W2.
Tenkan Sen and Kijun Sen, gap steady #W2.
Senoku Span A & B, gap narrow and steady #W3.


Wrap: Index slips below the Tenkan Sen but Bulls manage to close above it #W2.



Looking Forward into this Week:

Bears eye the Thinning Kumo #W2 (Study Links here, here or elsewhere) for an opportunity to break into the Kumo.
Bearish Cross of Tenkan Sen & Kijun Sen, at current range, next on Bear Agenda #W2.
Chikou Span at current altitude, can meet up with the price line in a few weeks #W1.


Wrap: Bulls look to stay above the Tenkan Sen and make new ATHs, Bears eye the Kumo #W2. 

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Evening Star - Week 3 of March 2015.

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

Patterns:

• Previous week's Doji, forms an Evening Star as studied #W1, and Bears slip below the wall. 
• Bulls have a long term 'Three Outside Up' in progress (last 4 candles) #M1.

Support & Resistance:

• 5 EMA on the EOD #D1, was the constant resistance last week.
• For the last candle on the EOW chart, the 13 SMA #W1, was the Support (for the previous candle, support was the 5 EMA on this chart ).

Moving Averages: 

• The critical 5 EMA and 13 SMA on the EOD, cross bearishly very early last week #D1.

Indicators:

• STS stays in the over bought #W2.

Wrap:

Bulls make a 3 Outside up and make a new ATH #M1. 
Bears defend the Weekly Channel top and follow it up with an 'Evening star' #W1.

Looking Forward into this Week:

Patterns:

• Last week's Evening Star on the Medium Term Screen (Study Links here, here or elsewhere) is active #W1.
• Channel Top resistance of the Medium Term Channel Top, works well for Bears #W1.
• Long Term Charts, see a Three Outside Up (Study Links here, here or elsewhere) #M1.

Support & Resistance:

• Index resistances that the Bulls would want to get above this week, are 8684 (Wall for March 2015)  and the medium term 13 SMA (8652).
• Support Levels that the Bears want to get below, are S1 on the Monthly Pivot #M1 and 8555 (5 EMA on the Monthly Charts).

Moving Averages: 

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

Indicators:

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

Wrap :

Bulls look to use the '3 outside up' #M1 on the Monthly charts, to get back above the wall. 
Bears depend on the medium term Channel top resistance, and the 'Evening Doji Star', to stay below the Wall #W1.

BSE Sensex - Ichimoku Study - Tenkan Sen Taken - Week 3 of March 2015.

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

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

Index retests the Tenkan Sen after the deflection - as seen in some earlier deflections #W2.
Senkou Span A & B - gap widens W3.
The gap between Tenkan Sen and Kijun Sen, increases #W2


Wrap: Index slips below the Tenkan Sen, after deflection #W2



Looking Forward into this Week:

A Bearish, Chikou Span cross, with Price line, at current altitude, will need a few more weeks #W1.
Tenkan Sen and Kijun Sen had deflected bullishly - study of previous deflections and behaviour of price, after the deflection, continues to be useful #W2.


Wrap: Bulls look to getting above the Tenkan Sen, whereas Bears press for life below the 'Kijun Sen' #W2.