S&P 500 - Triple Screen 'Technical Analysis' - Third Time's a Charm - Week 2 of August 2015.

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

Patterns:

• Bullish Harami by the June and July candles fail to reward the Bulls - Third attempt at breaking below the 200 SMA on the Day charts in progress #D1.

Support & Resistance:

• Index chose 2113 as the resistance last week - the daily 200 SMA provided exact support #D1.

Moving Averages:  

• The 5 EMA and 13 SMA, in the medium term #W1, remain in a bearish deflection as the index closed below our mark, 2113, last week.

Indicators:

• RSI 13, meanders in the middle of the range for some time now #W2.

Wrap:

Bears stuck at the 200 SMA for the third time #D1. 
Bears retain control of the Short term screen with a close below all daily MAs #D1.

Looking forward into this Week:

Patterns:

• Bullish Harami on the Long Term Charts is active - has potential to turn into a Three inside up (Study Links here, here or elsewhere) depending on the September candle #M1.

Support & Resistance: 

• Daily 200 SMA and the Day channel bottom #D1, are again the supports that Bulls want want to stay above. Index has resistance at 2116. 

Moving Averages:

• On the EOW, 5 EMA will stay deflected, off the 13 SMA bearishly, if this week closes below 2116 #W1,

Indicators:

• STS 34, stuck in the mid lands #D2.

Wrap:

Bulls, want to use current supports to get above 2116 #M1

Bears again hope for a lower low below the Daily 200 SMA #D1 and a break below the Day channel bottom.

Europe CAC 40 - Ichimoku Study - Kijun Sen Yields - Week 2 of August 2015.

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

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

Index bounce from the Kijun Sen, yields another green week, for the bulls attempting a run to the ATH #W2.
Chikou Span, stays way above the Price line #W1.
Gap between the Senkou Span A & B, steady #W3.
Gap between the Tenkan Sen and Kijun Sen narrows #W3.


Wrap: 
Bulls get more out of the bounce from the Kijun Sen #W2. 
Despite the Tenkan Sen - Kijun Sen cross, Bears fail to get the index lower #W2.


Looking Forward into this Week:


Bulls need to keep the Chikou Span well above the Price line, to keep their advantage #W1.
Index closing above the Kijun Sen and Tenkan Sen, (both strong supports last week) is good for Bulls #W2.
Gap between the Senkou Span A & B is wide, making a thick Kumo - and a strong support to come #W3.
Tenkan Sen and the Kijun Sen still in a bearish cross (Its called a 'Weak Bearish cross because it occurred when the index was Bullish i,e above the Kumo) - Bears still in the hunt #W2.


Wrap:
Index staying above the Tenkan Sen #W2, and Chikou Span above the Price line #W1, good reason for a Bull run to the ATH.
Taking advantage of the Bearish Cross of the Tenkan Sen & Kijun Sen while it lasts #W2,, is the Bear hope.

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bull Crux - Week 2 of August 2015.

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

 

Patterns:

• The Index takes off from the August Wall (8424) to retest the Right Shoulder of a possible Head & Shoulder formation on the Day Charts #D1.

Support & Resistance:

• Index takes off from Support at the August Wall (8424), and runs into resistance around the last high (RS) on the Day Chart #D1.

Moving Averages: 

• The critical 5 EMA and 13 SMA, are crossed bullishly on all three screens.

Indicators:

• On the Day chart, MACD is at its MA, histogram ticks into zero #D2.

Wrap:

Dominant Bulls are at a crux, but well above all the MAs that we track.
Bears put their trust on a possible H&S reversal #W1.

Looking Forward into this Week:

Patterns:

• H&S pattern on the Day Chart is a possibility worth a study #D1 (Study Links here, here or elsewhere) - Neckline for activation of the pattern is currently around 7900 (edited).

Support & Resistance:

• Bulls have support  at the S1 of the month pivot (8346) #M1, Resistance is at the same pivot's R1 (8686) #M1.

Moving Averages: 

• The Death Cross is active as long as the 50 SMA stays below the 200 SMA - gap between these MAs, is again flat this week #D1.

Indicators:

• Bulls hope that the TRD would take off upwards, after settling above the 50% mark last couple of months #M2.

Wrap :

Bears hope that a journey to 8346 (edited) would start, with a close below the daily 13 SMA (8494 for Monday) #D1.

Bulls, above all the MAs that we track, want to continue upwards, from the RS to the ATH (All Time High) #D1.

China SSEC - Ichimoku Study - Holding Lows - Week 2 of August 2015.

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

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

Chikou Span steadies above the Price line #W1.
Bulls find some life and hold index above last month's low #W2.
Gap between the Senkou Span A & B  steady #W3.
Gap between the Tenkan Sen and the Kijun Sen also steady #W2.


Wrap: 
After the Bearish Kijun Sen Cross, Bears fail to take out the previous low, Bulls get a green week after defending last month's low.


Looking Forward into this Week:


Index closing below the Kijun Sen (its called a 'weak bearish signal' as it occurred when the index was Bullish i,e. above the Kumo) works for the Bears #W2.
Bears need to get the Chikou Span below the Price line, to maintain edge #W1. 
Gap between the Senkou Span A & B staying wide, makes a thick Kumo and a strong support for the Bulls, when they get there #W3.
Gap between the Tenkan Sen and the Kijun Sen steady -  bullish deflection or bearish cross still on #W2.


Wrap:
Getting back above the Tenkan Sen and Kijun Sen #W2, priority for Bulls.
Bearish cross of the Tenkan Sen and Kijun Sen #W2 along with close below last month's low is what the Bears want.