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

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

Patterns: 

• Bulls end March strong, with a Bullish Opening White Marubozu #M1.

Support & Resistance:

• Index stays below the middle tine of the fork #D1, which was  resistance. Support was again the 13 SMA on the same screen #D1.

Moving Averages:  

• The critical 5 EMA, is poised to cross bullishly or deflect bearishly with the 13 SMA, on the Long Term Screen #M1.

Indicators:

• STS remains in the over sold zone #D1.

Wrap:

Bears keep index below the previous High #W1. Bulls continue to hold it above the daily 13 SMA.

Looking forward into this Week:

Patterns:

• Pin Bar Candle's effect (Study Links here, here or elsewhere) produced an Opening White Marubozu (Study Links here, here or elsewhere) and they are both active #M1.

Support & Resistance: 

• Last High (2116) and the middle prong for the fork #D1 are the immediate resistances. The lower prong of the Fork #D1, and the Daily 222 SMA, are the immediate supports.

Moving Averages:

• A Death Cross (55 & 222 SMA), is active on the Day Screen.
• The critical 5 EMA, is poised to cross bullishly or deflect bearishly with the 13 SMA, on the Long Term Screen at 2090 #M1.

Indicators:

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

Wrap:

Dominant Bulls, eye a higher high #W1.
Bears look to slip below the Fork #D1, and go about making a lower low.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Channel Top Stop - Week 1 of April 2016.

 

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

Patterns:

• Index stopped at the top line of the Day Channel, Bears get their red week #D1.

Support & Resistance:

• The Weekly 5 EMA, was support and the Day Channel Top was once again the 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, still below the 50 mark.

Wrap:

Pullback to Week Channel bottom in progress, Last weeks action stalls the index at 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. Channels, worth a study.(Study Links here, here or elsewhere) 

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 close the week below - 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 see the Pullback from the Weekly 200 SMA, to the Week Channel Bottom #W1, continuing, after a Pop out of the Day Channel.

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