S&P 500 - Triple Screen 'Technical Analysis' - High Wave - Week 3 of June 2015.

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

Patterns:

• The last candle on the Weekly Chart #W1, makes a High Wave #W1.
• Index bounces off the bottom of the Day Channel #D1 after monthly Spinning tops #M1.

Support & Resistance:

• Index was resisted near the daily MVWAP 34 #D1, while support was above the monthly 5 EMA  #M1.

Moving Averages:  

• The all important, 5 EMA and 13 SMA, in the medium term view #W1, touch for a bearish cross or bullish deflection.

Indicators:

• RSI 13 is in the 50s #W2.

Wrap:

Index vacillates with a High Wave candle #W1. Bulls hold the Channel bottom and the long term 5 EMA #M1. Bears dominate the short term screen #D1.

Looking forward into this Week:

Patterns:

• High Wave's effect is active on the medium term chart (Study Links here, here or elsewhere).
• Bulls keep the index above the Long term 5 EMA, for the 4th month running. The previous two month candles #M1, are green and resemble spinning tops (Study Links here, here or elsewhere).

Support & Resistance: 

• 5 EMA on the Month Chart (2077) #M1 and the MVWAP 34 on the weekly screen (2068) #W1, are the Index Supports that Bears want to get below. 
• Bulls seek to get back above the strategic 2094 #D1. 

Moving Averages:

• Bulls if they close this Week above 2094, will manage a Bullish deflection of the 5 EMA and the 13 SMA on the Weekly Charts  #W1.

Indicators:

• TSI, support at the 61.8% Fibonacci retrace, good for the Bulls #M2.

Wrap:

Bulls, keeping above the monthly 5 EMA #M1, look to reclaim the short term screen #W1.

Bears look for a weekly close below 2077 to stay in the red #M1.

The Dow Jones - Ichimoku Study - Kijun Sen Supports - Week 3 of June 2015.

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

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

Index bounces off from support at the Kijun Sen but gets sent back at the Tenkan Sen again #W2.
Gap between the Tenkan Sen and Kijun Sen moves up #W2.
Senoku Span A & B, gap increases #W3.
Chikou Span above the Price line #W1.

Wrap: Index takes support at the Kijun Sen, Chikou span deflects off the Price line #W1.



Looking Forward into this Week:

Bears for the next opportunity to dive into the Kumo #W2.
Cross of Tenkan Sen, to below the Kijun Sen, is next on Bear wishlist #W2.
Chikou Span makes a Bullish deflection off the Price line, Bulls need to pull up the index to keep the advantage #W1.


Wrap: Bulls look to stay above the Kijun Sen, Bears look for a Bearish Cross of the Chikou Span and the Price line #W2. 

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Death Cross - Week 3 of June 2015.

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

 

Patterns:

• Bullish Harami on the long term charts produces a long red June candle as of now #M1.
• Bearish Harami on the Weekly charts become a 'Three inside Down' and gives the Bears some honey #W1.

Support & Resistance:

• Index breaks support at the Blue middle line of the EOW channel #W1, and takes support at the red Bottom line of the Day Channel #D1.
• Blue middle line of the EOW channel #W1, resists the Index last week.

Moving Averages: 

• The critical 5 EMA and 13 SMA on the Monthly charts, gets closer to a Bullish deflection or a Bearish cross off 7878 #W1.
• The 200 SMA and 50 SMA on the EOD Charts touch for a Bearish Cross #D1.

Indicators:

• MACD and its MA stay below the zero line as does its Histogram #D2.

Wrap:

Bulls resisted at the Mid-line of the Week Channel takes support at the Bottom of the Day Channel #D1.

Bears look good for a Death Cross #D1..

Looking Forward into this Week:

Patterns:

• A Bullish Harami (Study Links here, here or elsewhere) #M1 is active on the long term chart. A 'Three inside Down'  (Study Links here, here or elsewhere) #W1 is active on the medium term chart. 

Support & Resistance:

• Bulls face resistance at the 76.4% Fibonacci retrace (8040) 'of the 2011 low to the ATH' #W1.
• Current support is at the Day Channel's bottom line #D1.
• Wall for June 2015 is 8321. 

Moving Averages: 

• Death Cross (study here, here or elsewhere) is active, as long as the 50 SMA stays below the 200 SMA #D1.

Indicators:

• Bulls hope that the TRD would climb back above the 50% mark this month #M2.

Wrap :

Bulls look to get above the June Wall (8321) after getting above 8040 #D1 .

Bears plan to trigger the Death Cross and hope to close below 7878 #W1. 

BSE Sensex - Ichimoku Study - Life in the Kumo - Week 3 of June 2015.

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

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

Bears settle into the Kumo #W2.
Gap between the Senkou Span A & B  narrows further #W3.
Gap between the Tenkan Sen and the Kijun Sen is steady #W2.
With the Price inside the Kumo any Ichimoku signal seen is deemed 'Neutral' - marked blue.


Wrap: 
Bears holding on to a Bearish Tenkan Sen-Kijun Sen Cross & Chikou Span Cross, get a life in the Kumo #W1 &W2.
Bulls are left with their last hope a 'Senkou Span A & B' bullish deflection -  #W1.



Looking Forward into this Week:

Chikou Span can recross the Price line Bullishly, if the index bounces out of the Kumo #W1.
Narrowing gap between the Senkou Span A & B, makes a bullish deflection or bearish cross, imminent #W3.
Bull hope rests on getting back above the rather thick Kumo (Study Links here, here or elsewhere) #W2.



Wrap:
Bulls hope to get out of the Kumo, point the Chikou Span above the Price line and manage a deflection of the Senkou Span A & B  #W1. 
Bears look to stay in the Kumo, retaining the Bearish Crosses #W2.