Monday, March 28, 2016

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 herehere or elsewhere) is active on the Month Screen #M1.
    • Three inside down on the Weekly Charts possible (Study Links herehere 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:
    • 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 herehere or elsewhere) is active on the Long Term chart #M1.
    • Channel Top hit on the Day Chart #D1 (Study Links herehere 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.


    Saturday, March 26, 2016

    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, 

    Monday, March 21, 2016

    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 herehere 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:
      • 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 herehere or elsewhere) is active on the Long Term chart #M1.
      • 'Hanging Man Candle' (Study Links herehere 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.


      Saturday, March 19, 2016

      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....




      Monday, March 14, 2016

      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 herehere 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:
        • 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.