S&P 500 - Triple Screen 'Technical Analysis' - 3 inside down and 2068 - Week 2 of April 2015.

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


Patterns:

• Bulls fail to make a higher high again and close below the channel's bottom line in a repeat performance #D1.
• March and February candles form a Bearish Harami, with April candle showing red - as of now #M1. 

Support & Resistance:

• Index found resistance at the Daily MVWAP 34, #D1, while support was at the 5 EMA on the EOM #M1.

Moving Averages:  

• The all important, 5 EMA and 13 SMA, on the medium term screen, stay deflected Bullishly as of last week #W1.

Indicators:

• RSI 13 is still around the 50s #W2.

Wrap:

Index resisted near the Daily MVWAP 34 #D1, takes support at the Long Term 5 EMA #M1.

Looking forward into this Week:

Patterns:

• Bulls now need to prevent a Long Term Three inside down (Study Links here, here or elsewhere) #M1. 
• Bulls look to History (re-look) #M1 & #M3, and the support at the 5 EMA #M1, for a resumption of the Bull run.

Support & Resistance: 

• Day Channel's Bottom Line, is the resistance that Bears want to keep below, this week also. 
• Bulls seek to keep above the support at the 5 EMA on the EOM (2052) #M1.

Moving Averages:

• Above 2049, the 5 EMA and the 13 SMA on the Weekly  Charts, would stay deflected Bullishly #W1.

Indicators:

• TSI, support at the 61.8% Fibonacci retrace, would hold some cheer for the Bulls #M2.

Wrap:

Bears after triggering a Long term Bearish Harami, look to convert it into a 3 inside down, by closing April below 2068 #M1.

Bulls trust History #M1 & #M3 and aim to keep above the 5 EMA on the month chart. 

The Dow Jones - Ichimoku Study - Thinning Kumo 5 - Week 2 of April 2015.

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

Bears again fail to close the week below the Tenkan Sen in the Cash segment (futures did)  #W2.
Tenkan Sen and Kijun Sen, gap steady #W2.
Senoku Span A & B, gap narrow and steady #W3.
Thinning Kumo couple of weeks away #W2.


Wrap: Bears fail to close index below Tenkan Sen as of Thursday last week #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 only after negotiating the earlier dip to the Kumo #W1.


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

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Nifty Fives - Week 2 of April 2015.

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

Patterns:

• Bulls slip above the April Wall (8343) and then close above the April 5 EMA (8534) #M1.
• Bears get their Long Term 'Bearish Engulfing' followed by a green April candle - see last three candles #M1

Support & Resistance:

• Bulls hit the April pivot #M1 after finding support near the Day channel bottom #D1.
• The Long Term 5 EMA (8534) was cleared by the Bulls - the Medium Term 5 EMA (8586) for this week, was held by the Bears on the Nifty.

Moving Averages: 

• The critical 5 EMA and 13 SMA on the EOW & EOD, remain crossed bearishly, as of last week #D1 & #W1.

Indicators:

• STS stays below the over bought line #W2.

Wrap:

Bears hold the Nifty at the Weekly 5 EMA #W1 and Monthly Pivot #M1.

Bulls clear the April Wall and the Monthly 5 EMA #M1 despite a Long Term 'Bearish Engulfing' #M1.

Looking Forward into this Week:

Patterns:

• A Bearish Engulfing is active on the Long Term Screen (Study Links here, here or elsewhere) #M1. 
• Above can turn into a Three Outside Down (Study Links here, here or elsewhere) #M1 - April watch.

Support & Resistance:

• Index supports that the Bears would want to get below this week, are 8343 (Wall for April)  and the Monthly 5 EMA (8534).
• Resistance Levels that the Bulls want to get above, are the Weekly 5 EMA (8586) and the Daily 50 SMA #D1.

Moving Averages: 

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

Indicators:

• Bulls hope to see the TRD, taking support above the 50% Fibo Mark #M2.

Wrap :

Bulls look to clear the Daily 50 SMA #D1, keeping above the Long Term 5 EMA (8534) #M1

Bears want life below the April Wall and an April close below 8491 (the March Close), triggering a long term Three Outside Down #M1. 

BSE Sensex - Ichimoku Study - Kijun Sen taken - Week 2 of April 2015.

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

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

Bear's taste of life below the Kijun Sen is short lived, Bulls peek above the red line #W2.
Gap between the Senkou Span A & B  #W3, as also the Tenkan Sen & Kijun Sen steady #W2.
The Chikou span #W1 bounces at price line, answering the Bull's prayers.


Wrap: Index just above the Kijun Sen #W2, Bulls get a Chikou Span bounce at Price line #W1



Looking Forward into this Week:

Chikou Span holding above the Price Line, is a clear relief for Bulls #W1.
Narrowing gap between the Senkou Span A & B  #W3, as also the Tenkan Sen & Kijun Sen, opens possibility of bullish deflection or bearish cross #W2.


Wrap: Bulls pray that the Chikou Span stays above the Price line #W1, helping the index stay above the Kijun Sen.
 Bears look to push towards the Kumo once again, with a move below the Kijun Sen #W2.