US - S&P 500 - Triple Screen 'Technical Analysis' - Pin Bar? - Week 1 of March 2016.

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

Patterns:.

• Index shows a Pin Bar candle for February 2016, with one day to go #M1.

Support & Resistance:

• Index was resisted around the 13 SMA on the Weekly Screen as studied #W1. Support came near the 5 EMA on the Day Screen #D1.

Moving Averages:  

• The 5 EMA on the Day Screen is crossed bullishly above the 13 SMA on the Day Screen #D1.

Indicators:

• TSI on the Month Screen. descends from the 50% towards the 38.2% Fibonacci retrace #M2.

Wrap:

The Month candle resembles a Pin Bar, after double bottom on the day screen #D1.

Looking forward into this Week:

Patterns:

• 'Opening Black Marubozu' (Study Links here, here or elsewhere) is active on the Long Term Chart #M1.
• Pin Bar Candle (Study Links here, here or elsewhere) is possible on the Month Screen #M1.

Support & Resistance: 

• '23.6% Fibonacci retrace from the ATH to the 2011 (orange) low' #M1, is the immediate support. The 34 MVWAP on the Week Charts is  next resistance #W1,

Moving Averages:

• A Death Cross (50 & 200 SMA), is on the Day Screen.

Indicators:

• TSI on the Month Screen. getting back above the 50% important for Bulls #M2.

Wrap:

Bulls above support, invade the Week channel #W1 and look to make a Pin Bar for February.
Bears look to re-start the down trend, with help from January's'Opening Black Marubozu' #M1.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Pullback? - Week 1 March 2016.

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

Patterns:

• The Bulls fail to convert the Bullish Harami on the Weekly Screen #W1, into a 'Three inside up'.
• Bulls however, keep hopes of a Pullback alive, by keeping above support at the 200 SMA Weekly (Blue) #W1

Support & Resistance:

• Index kept above support at the S2 of the Month Pivot  #M1 and was resisted at the weekly 5 EMA #W1,

Moving Averages: 

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

Indicators:

• On the week charts the STS #W1, remains in the over sold zone.

Wrap:

Bulls keep above the Weekly 200 SMA #W1. Bears defend the weekly 5 EMA #W1.

Looking Forward into this Week:

Patterns:

• 'Opening Black Marubozu' (Study Links here, here or elsewhere) is active on the Long Term chart #M1.

Support & Resistance:

• Bulls aim for the resistance at 7494, the 'Fibonacci 76.4% retrace of the 2008 low to the ATH)' #M1. 
• 6828, the 'Fibonacci 50% retrace of the 2011 low to the ATH)'  is the support that the Bears need to crack #W1.

Moving Averages: 

• The Death Cross (50 and 200 SMA) has been active for the past 6+ months #D1.

Indicators:

• The TRD closing above the 38.6% Fibo for the month, helps the Bulls #M2.

Wrap :

Bulls hope for a Pullback from the Weekly 200 SMA to the Week Channel Bottom #W1.

Bears aim the day channel bottom #D1, and life below 6828.

Brent Crude Oil - Ichimoku Study - Tenkan Sen! - Week 1 of March 2016.

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

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

Bulls score with close above the Tenkan Sen #W2.
Gap between the Senkou Span A & B,steady #W3.
Gap between Tenkan Sen and Kijun Sen, steady #W2.

Wrap: 
Index closes above the Tenkan Sen #W2.



Looking Forward into this Week:

Chikou Span starts towards the price line  #W2.
Staying above the Tenkan Sen, the bulls get some life #W3.
Bears look to get back dominance, with plunge below the Tenkan Sen #W2.


Wrap:
Bears look to move below the Tenkan Sen, and get back in the game #W2.
Breaking the 17 week stay below the Tenkan Sen #W2, Bull Hopes look up.

Say....

US - S&P 500 - Triple Screen 'Technical Analysis' - Double Bottom Rewards - Week 4 of February 2016.

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

Patterns:.

• Bulls after making a double bottom #D1, the previous week take the index to the Week Channel Bottom, with a long green Marubozu #W1.

Support & Resistance:

• Index was resisted around the MVWAP 34. Support came near the '23.6% Fibonacci retrace from the ATH to the 2011 (orange) low' #W1.

Moving Averages:  

• The 5 EMA on the Day Screen is crossed bullishly above the 13 SMA on the Day Screen #D1.

Indicators:

• RSI 13, at divergence to the price, is almost at the over sold  #W2.  

Wrap:

Index closes stronger, above support, after bouncing off a double bottom #D1.

Looking forward into this Week:

Patterns:

• 'Opening Black Marubozu' (Study Links here, here or elsewhere) is active on the Long Term Chart #M1.
• 'Double Bottom' Chart pattern (Study Links here, here or elsewhere) is active on the Day Screen #D1.

Support & Resistance: 

• '23.6% Fibonacci retrace from the ATH to the 2011 (orange) low' #M1, is the immediate support. The 13 SMA on the Week Charts is  immediate resistance #W1,

Moving Averages:

• A Death Cross (50 & 200 SMA), is on the Day Screen #D1.

Indicators:

• TSI on the Month Screen. descends from the 50% towards the 38.2% Fibonacci retrace #M2.

Wrap:

Bulls above support, after bouncing off the double bottom, look to invade the Week channel #W1.
Bears look to re-enforce the down trend, using he resistance at the Week Channel and with help from January's'Opening Black Marubozu' #M1.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Harami - Week 4 of February 2016.

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

Patterns:

• The Index takes off from the Day Channel Bottom #D1, after the fast fall, and makes a Bullish Harami on the Weekly Screen #W1..

Support & Resistance:

• Index took off from support at the S2 of the Month Pivot  #M1 and was resisted at the S1 of the Month Pivot #M1 and the daily 13 SMA #D1,

Moving Averages: 

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

Indicators:

• On the week charts the STS #W1, remains in the over sold zone.

Wrap:

Support at the the Day Channel Bottom #D1, gives the Bulls a Harami #W1. Bears defend the daily 13 SMA #D1.

Looking Forward into this Week:

Patterns:

• 'Opening Black Marubozu' (Study Links here, here or elsewhere) is active on the Long Term chart #M1.
•  'Bullish Harami' (Study Links here, here or elsewhere) is active on the Medium Term Chart,  if it mutates into a 'Three inside up', Bulls celebrate #W1.

Support & Resistance:

• Bulls need to clear the resistance at the Weekly channel bottom #W1. The support at the 'Fibonacci 50% retrace of the 2011 low to the ATH (6828)'  is what the Bears need to crack #W1.

Moving Averages: 

• The Death Cross (50 and 200 SMA) has been active for the past 6+ months #D1.

Indicators:

• The TRD closing above the 38.6% Fibo for the month, helps the Bulls #M2.

Wrap :

Bulls hope that the pullback to Week Channel Bottom happens, with a 'Three Inside Up' #W1, #M1.

Bears aim the day channel bottom #D1, and life below 6828.

Brent Crude Oil - Ichimoku Study - Deuce - Week 4 of February 2016.

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

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

Bulls and Bears go deuce as the Price closes exactly on the Tenkan Sen #W2.
Gap between the Senkou Span A & B,steady #W3.
Gap between Tenkan Sen and Kijun Sen, steady #W2.

Wrap: 
Index at the Tenkan Sen, Deuce #W2.



Looking Forward into this Week:

Chikou Span starts towards the price line  #W2.
Above the Tenkan Sen, the bulls get some life #W3.
Defending the Tenkan Sen, as they have, in the past few months, keeps the Bears dominant #W2.


Wrap:
Bears look to move below the Tenkan Sen, and get more red on the screen #W2.
Breaking the 17 week stay below the Tenkan Sen #W2, with a Deuce - Bulls look up.

Say....

US - S&P 500 - Triple Screen 'Technical Analysis' - Double Bottom Drama - Week 3 of February 2016.

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

Patterns:.

• Bulls hold the fort with a double bottom #D1.

Support & Resistance:

• Index was resisted exactly at the '23.6% Fibonacci retrace from the ATH to the 2011 (orange) low' #W1.. Support came near the Day channel Bottom equaling an earlier bottom #D1.

Moving Averages:  

• The 5 EMA on the Day Screen is crossed bearishly below the 13 SMA on all screens. 

Indicators:

• RSI 13, at divergence to the price, is almost at the over sold  #W2.  

Wrap:

Index closes weak, below support, but after bouncing off a double bottom #D1.

Looking forward into this Week:

Patterns:

• 'Opening Black Marubozu' (Study Links here, here or elsewhere) is active on the Long Term Chart #M1.
• 'Double Bottom' Chart pattern (Study Links here, here or elsewhere) is active on the Day Screen #D1.

Support & Resistance: 

• '23.6% Fibonacci retrace from the ATH to the 2008 (blue) low' #M1, is the next major support. The MVWAP34 on the Day Charts is  likely resistance #D1,

Moving Averages:

• A Death Cross (50 & 200 SMA), is on the Day Screen #D1.

Indicators:

• TSI on the Month Screen. descends from the 50% towards the 38.2% Fibonacci retrace #M2.

Wrap:

Bulls below the '23.6% Fibonacci retrace from the ATH to the March 2011 (orange) low', seek an up move after bouncing off the double bottom #W1.
Bears look to enforce the down trend with drive down to the '23.6% Fibonacci retrace from the ATH to the 2008 (blue) low' #M1  with help from January's'Opening Black Marubozu' #M1.