US - S&P 500 - Triple Screen 'Technical Analysis' - Marubozu - Week 1 of June 2016.

 

 

 

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


Patterns: 
Previous week's candle, a 'High Wave', is followed by a large 'Closed White Marubozu' #W1. H&S formation is history.

Support & Resistance: 
Middle Tyne of the fork on the day screen #D1, was the resistance last week, The weekly 5 EMA was the nearest support.

Moving Averages:
The critical 5 EMA, is bullishly above the 13 SMA, on all screens.

Indicators:  
STS touches the Over bought #D2.


Wrap: 
Bears again keep the index below the previous High #W1. Bulls have a huge green week #W1.




Looking forward into this Week:


Patterns: 
'Closed White Marubozu' (Study Links here, here or elsewhere), is active on the Week Chart #W1.

Support & Resistance: 
Last High (2116) continues to be the resistance to beat. The Daily 222 SMA, is still the support, that Bulls want to stay above #D1.

Moving Averages: 
The 55 & 222 SMA, is a in a 'Golden Cross' on the Day Screen #D1.

Indicators: 
TSI is facing resistance at the 61.8% mark #M2.


Wrap: 
Bulls, after fading the H&S formation, are making another attempt at a higher high (2116+) #W1.
Bears aim to return the Index at the middle tyne of the fork #D1.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Range Top - Week 1 of June 2016.

 

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

Patterns:

• Nifty takes off from the Daily 50 SMA #D1, and makes a perfect touch at the top of our range, i.e. the bottom of the Week Channel (green) #W1. A 'Three inside up' on the Day Chart helps #D1.

Support & Resistance:

• 50 SMA on the Day  screen #D1 was again Supporrt. The green channel bottom on the week screen was resistance  #W1.

Moving Averages: 

• The critical 5 EMA, is now bearishly below the 13 SMA, only on the Long term screen #W1.

Indicators:

• The TRD #M2, is nosing above the resistance at the mid point (50% Fibonacci).

Wrap:

Bulls use support at the daily 50 SMA to zip up to the green channel bottom on the week screen #W1.
Bears manage to hold the resistance at the above line #W1.

Looking Forward into this Week:

Patterns:

• 'Three inside up' action dominated the day screen (Study Links here, here or elsewhere) last week #D1.

Support & Resistance:

• Resistance is at R2 (8258 edited) of the Month Pivot #M1, the 'Fibonacci 76.4% retrace of the 2010 low to the ATH'  #W1 is support (8040) #W1.

Moving Averages: 

• A Death Cross (50 and 200 SMA) is active on the day chart, gap between these MAs is almost done, pointing to a possible Golden Cross this week #D1.

Indicators:

• The MACD deflecting off the zero line, is good for Bulls #D2.

Wrap :

Bulls, precisely in touch with the green channel bottom on the week screen #W1, look to climb above it, and target a new ATH. Bears seek to defend this line.

Brent Crude Oil - Ichimoku Weekly Study - Kumo touch - Week 1 of June 2016.

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

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

Chikou Span stays above the Price line, and gets above the Tenkan Sen #W1.
Index reaches the Kumo #W2.
Senoku Spans A and B converge #W3.

Wrap:
Index completes its green strike to the Kumo #W2.




Looking Forward into this Week:

After the bullish Chikou Span Cross, Bears hope for resistance at the Kumo #W1.
Holding the the Chikou Span below the Kijun Sen, important for Bears #W2.
The Senoku Span 'A' crossing above the 'B' is the next Bull ask #W3.

Wrap:
Defending the Kumo is the Bear target #W2.
Keeping the Chikou span above the price line and entering the Kumo is the Bull ask #W2.

Say....

 

US - S&P 500 - Triple Screen 'Technical Analysis' - Neckline Wave - Week 4 of May 2016.

 

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

Patterns:

• Last week's candle was a 'High Wave' #W1, this action happened at the Neckline of the Head and Shoulder formation #D1 . 

Support & Resistance:

• MVWAP34 on the day screen #D1, was the resistance last week the daily 222 SMA was near support.

Moving Averages: 

• The critical 5 EMA, is bearishly below the 13 SMA, only on the Day Screen #D1.

Indicators: 

• STS lands at the Over sold #D2.

Wrap:

Bears keep the index below the previous High #W1. Bulls closed the week, above the daily 222 SMA but allowed the formation of a bearish 'Head and Shoulder' on the day screen #D1.

Looking forward into this Week:

Patterns:

• Morning Star (Study Links here, here or elsewhere), is active on the Month Chart #M1. 
• Head & Shoulder Pattern (Study Links here, here or elsewhere) on the Day Chart, is active so long as the price stays below the neck line #D1. 

Support & Resistance:

• Last High (2116) continues to be the resistance to beat. The Daily 222 SMA, is still the support, that Bulls want to stay above #D1.

Moving Averages:

• The Death Cross (55 & 222 SMA), has turned into a 'Golden Cross' on the Day Screen.

Indicators:

• TSI is above the 50% mark #M2.

Wrap:

Bulls, look to fade the H&S formation, and make another attempt at making a higher high (2116+), keeping above the neckline of the H&S #D1.

Bears seek to break the index down to below the neckline of the H&S, and then the 222 SMA #D1.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Range Break? - Week 4 of May 2016.

  

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

Patterns:

• Index has ranged this month about the monthly pivot, between the 5 EMA and 13 SMA #M1.

Support & Resistance:

• 50 SMA on the weekly  screen #W1 was again resistance. The rising channel on the day screen was broken and the daily 50 SMA was support  #D1.

Moving Averages: 

• The critical 5 EMA, is now bullishly above the 13 SMA, only on the Week screen #W1.

Indicators:

• The TRD #M2, is facing resistance at the mid point (50% Fibonacci).

Wrap:

Pullback to Week Channel bottom #W1 and Throwback to Day channel top #D1, produces a trading range, Index ranges in it with a downward bias.

Looking Forward into this Week:

Patterns:

• 'Evening Doji Star' (Study Links here, here or elsewhere) has been active on the Medium Term chart #W1.

Support & Resistance:

• Resistance is at 8040, the 'Fibonacci 76.4% retrace of the 2010 low to the ATH)'  #W1. Support is at the (red) Day Channel Top #D1.

Moving Averages: 

• A Death Cross (50 and 200 SMA) is active on the day chart, gap between these MAs is reducing, pointing to a possible Golden Cross #D1.

Indicators:

• The MACD deflecting below and off its MA with its histogram below the zero line, is good for Bears #D2.

Wrap :

Bulls and bears again seek resolution  of the current range as studied.



 

Brent Crude Oil - Ichimoku Weekly Study - Kumo - Week 4 of May 2016.

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

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

Chikou Span clears the Price line with style, nudges the Tenkan Sen #W1.
Index reaches for the Kumo #W2.
Senoku Spans A and B converge #W3.

Wrap:
Chikou Span clears the price line #W1, Index all green #W2.



Looking Forward into this Week: 

After the bullish Chikou Span Cross, Bulls see resistance at the Kumo #W1. 
Holding the the Chikou Span below the Tenkan Sen, important for Bears #W2.
The Senoku Span 'A' crossing above the 'B' is the next Bull ask #W3.
  
Wrap:
Defending the Kumo is the Bear target #W2.
Keeping the Chikou span above the price line and attacking the Kumo is the Bull task #W2. 

Say....

US - S&P 500 - Triple Screen 'Technical Analysis' - H&S ! - Week 3 of May 2016.

 

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

Patterns: 

• Bears close the index at the 50 SMA #D1, index makes the right shoulder perfectly and is almost at the neckline of the Head and Shoulder (H&S) pattern #D1, on the Day Chart. 

Support & Resistance:

• Index closes at the Daily 50 SMA #D1. After facing resistance at the daily 13 SMA #D1.

Moving Averages:  

• The critical 5 EMA, is bearishly below the 13 SMA, only on the Day Screen #D1.

Indicators:

• STS below the 50% mark #D2.

Wrap:

Bears keep the index below the previous High #W1. Bulls continue to hold above the daily 222 SMA but almost allow a bearish 'Head and Shoulder' on the day screen #D1.

Looking forward into this Week:

Patterns:

• Morning Star (Study Links here, here or elsewhere), is active on the Month Chart #M1. 
• Possible, Head & Shoulder Pattern (Study Links here, here or elsewhere) on the Day Chart, next watch for the neck line break #D1. 

Support & Resistance: 

• Last High (2116) continues to be the resistance to beat. The Daily 222 SMA, is still the support, that Bulls want to stay above #D1.

Moving Averages:

• The Death Cross (55 & 222 SMA), has turned into a 'Golden Cross' on the Day Screen.

Indicators:

• TSI is above the 50% mark #M2.

Wrap:

Bulls, still good to attempt another go at making a higher high (2116+), keeping above the neckline of the H&S #D1.
Bears would want to break down below the neckline of the H&S and then the 222 SMA #D1.