US - S&P 500 - Triple Screen 'Technical Analysis' - Three inside down? - Week 5 of March 2016.

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

Patterns:.

• Bears finally get a red candle and a Bearish Harami, last week #W1.

Support & Resistance:

• Index slipped below and was resisted by the middle tine of the fork #D1, for most of the week. Support came in at the 13 SMA on the same screen #D1.

Moving Averages:  

• The critical 5 EMA, remains crossed bullishly above the 13 SMA, on the Day and Week Screens #D1.

Indicators:

• STS remains in the over sold zone #D1.

Wrap:

Bears manage a Bearish Harami #W1. Bulls hold it above the daily 13 SMA.

Looking forward into this Week:

Patterns:

• Pin Bar Candle's effect (Study Links here, here or elsewhere) is active on the Month Screen #M1.
• Three inside down on the Weekly Charts possible (Study Links here, here or elsewhere) #W1.

Support & Resistance: 

• Last week's close (2036) and the middle prong for the fork #D1 are the immediate resistances. The lower prong of the Fork #D1, and the weekly 5 EMA (2000) are the immediate supports.

Moving Averages:

• A Death Cross (55 & 222 SMA), is active on the Day Screen.

Indicators:

• RSI 13 going above the 50% mark, is important for the Bull up move #W2.

Wrap:

Bulls dominant, after the long term Pin Bar, still look at making a higher high #W1.
Bears want a lower high, and resumption of the down move, with help from the Bearish Harami #W1.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Channel Top - Week 5 March 2016.

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

Patterns:

• Index reaches the top line of the Day Channel #D1.

Support & Resistance:

• The Daily 5 EMA, was constant support and the Day Channel Top was resistance last week #D1.

Moving Averages: 

• The critical 5 EMA and 13 SMA, remain in a Bullish cross on the  Week Screen #W1.

Indicators:

• On the week charts the STS #W1, heads towards the 50 mark.

Wrap:

Pullback to Week Channel bottom progresses, Last weeks action takes the index to the Day Channel Top #D1.

Looking Forward into this Week:

Patterns:

• 'Opening Black Marubozu' (Study Links here, here or elsewhere) is active on the Long Term chart #M1.
• Channel Top hit on the Day Chart #D1 (Study Links here, here or elsewhere) worth a study.

Support & Resistance:

• Bulls aim for the resistance at 8040, the 'Fibonacci 76.4% retrace of the 2010 low to the ATH)'  and close to the Pullback target #W1.
• The daily 5 EMA, is the support that the bears would want to crack - to start some downward traction.

Moving Averages: 

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

Indicators:

• The TRD staying above the 38.6% Fibo, for the month, helps the Bull cause #M2.

Wrap :

Bulls hope the Pullback from the Weekly 200 SMA, to the Week Channel Bottom #W1, continues.

Bears expect the resistance at the zone of the Day Channel Top line #D1, to help them get some red on the screen.

Brent Crude Oil - Ichimoku Study - Kijun Sen Hold - Week 5 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)


Bears get a red week and move index below the Kijun Sen #W2.
Gap between the Senkou Span A & B, reduces #W3.
Gap between Tenkan Sen and Kijun Sen, reduces #W2.
Chikou Span approaches the Price line #W1


Wrap:
After clearing the Tenkan Sen, index oscillating around the Kijun Sen #W2.



Looking Forward into this Week:

Chikou Span approaching the price line, great for Bulls  #W1.
Winning the battle for the Kijun Sen, now critical for Bulls & Bears #W2.
Cross or deflection of the Tenkan Sen and Kijun Sen is the next action point #W2.


Wrap:
Chikou Span's proximity to the Price line #W1 and battle for the Kijun Sen are what the Bull and Bear camps would focus on this week #W2, 

Say....

US - S&P 500 - Triple Screen 'Technical Analysis' - Higher High time - Week 4 of March 2016.

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

Patterns:.

• Bulls now have 5 green weekly candles in a row #W1. Last Swing high 2117 #W1.is next.

Support & Resistance:

• Index was resisted in line with the earlier highs #W1. Support came in at the 13 SMA on the Day Screen #D1.

Moving Averages:  

• The critical 5 EMA, remain crossed bullishly above the 13 SMA, on the Day and Week Screens #D1.

Indicators:

• STS remains in the over sold zone #D1.

Wrap:

Bears defend the channel line from earlier highs #W1. Bulls clear all MAs that we track.

Looking forward into this Week:

Patterns:

• Pin Bar Candle's effect (Study Links here, here or elsewhere) is active on the Month Screen #M1.

Support & Resistance: 

• 222 SMA #D1, is the immediate support. Last weeks close 2050. is the current resistance. The next swing high 2117 is subsequent resistance, that Bulls need to clear #D1,

Moving Averages:

• A Death Cross (55 & 222 SMA), is active on the Day Screen.

Indicators:

• RSI 13 staying above the 50% mark, is important for the Bull up move #W2.

Wrap:

Bulls on a roll, after Pin Bar, look at making a higher high #W1.
Bears aim ensure a lower high and get the index below the 222 SMA #D1, with the hope of continuing the down trend.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bulls, Hanging on - Week 4 March 2016.

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

Patterns:

• Bulls Hang on to the up trend, producing a green 'Hanging Man' candle last week #W1.

Support & Resistance:

• The Daily 13 SMA,  #D1,.was support and the Monthly 5 EMA  #M1, was resistance. which held, until the dying hours of last week.

Moving Averages: 

• The critical 5 EMA and 13 SMA, makes a Bullish cross on the  Week Screen #W1.

Indicators:

• On the week charts the STS #W1, heads towards the 50 mark.

Wrap:

Pullback to Week Channel bottom progresses, Last weeks action produces a 'Hanging Man Candle' #W1..

Looking Forward into this Week:

Patterns:

• 'Opening Black Marubozu' (Study Links here, here or elsewhere) is active on the Long Term chart #M1.
• 'Hanging Man Candle' (Study Links here, here or elsewhere) is active on the Medium Term chart #W1.

Support & Resistance:

• Bulls aim for the resistance at 8040, the 'Fibonacci 76.4% retrace of the 2010 low to the ATH)'  and close to the Pullback target #W1. 
• The monthly 5 EMA, 7578 is the support that the bears would want to close this week below  #W1.

Moving Averages: 

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

Indicators:

• The TRD staying above the 38.6% Fibo, for the month, helps the Bull cause #M2.

Wrap :

Bulls hope the Pullback from the Weekly 200 SMA, to the Week Channel Bottom #W1, continues.

Bear future hangs, on getting back below the Monthly 5 EMA (7858) #M1.

Brent Crude Oil - Ichimoku Study - Kijun Sen Pop - Week 3 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 clear the Kijun Sen #W2.
Gap between the Senkou Span A & B, reduces #W3.
Gap between Tenkan Sen and Kijun Sen, reduces #W2.
Chikou Span approaches the Price line #W1


Wrap:
After clearing the Tenkan Sen, Bulls take the index in a quick spike to clear the Kijun Sen #W2.



Looking Forward into this Week:

Chikou Span approaching the price line, great for Bulls  #W1.
Staying above the Kijun Sen, now critical for Bulls #W2.
Bears need to get the index below the Kijun Sen #W2.


Wrap:
Bulls look to defend the Kijun Sen #W2 and aim the Chikou Span at the Price line #W1.
Bears want a red week and life below the Kijun Sen #W2, 

Say....

US - S&P 500 - Triple Screen 'Technical Analysis' - Pin Bar Rewards - Week 3 of March 2016.

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

Patterns:.

• Bulls get rewards from the February Pin Bar #M1. Index moves up smartly to the Daily 222 SMA #D1. 

Support & Resistance:

• Index was resisted around the 222 SMA  on the Daily Screen #D1. Support came in at the 13 SMA on the Day Screen #D1.

Moving Averages:  

• The critical 5 EMA, is crossed bullishly above the 13 SMA, on the Day and Week Screens #D1.

Indicators:

• STS is in the over sold zone #D1.

Wrap:

Bulls use the Pin Bar on the Month Screen to good effect, Bears defend 222 SMA #D1.

Looking forward into this Week:

Patterns:

• Pin Bar Candle's effect (Study Links here, here or elsewhere) is active on the Month Screen #M1.

Support & Resistance: 

• MVWAP34 #D1, is the immediate support. The 222 SMA on the Day Charts is the resistance, that Bulls need to clear next #D1,

Moving Averages:

• A Death Cross (55 & 222 SMA), is on the Day Screen.

Indicators:

• RSI 13 staying above the 50% mark, is important for the Bull up move #W2.

Wrap:

Bulls on a roll, after Pin Bar, now consider the 222 SMA, in their path to making a higher high #D1.
Bears aim to keep the index below the 222 SMA #D1, then break below the day Channel #D1 and keep the down trend intact.