EOD Analysis CNX Nifty - 17 02 2012 - Channels and Crossovers..

Nifty - End of Day Chart - 17 Feb 2012

It was about a month ago that we defined the channel you see on the EOD above (post here). We have a precise climax at the channel top happening now - 800 odd Nifty points later.

The crossover of the 34 EMA to above the 200 DMA on the EOD has significance from a long term view. So does the 5 EMA - 13 SMA cross on the EOM mentioned last week (post here). They usually signify the return of the Bull market.

Here are some free reads on MA crossover for the weekend....

http://stockcharts.com/school/doku.php?id=chart_school:trading_strategies:arthur_hill_on_movin
http://www.traderslog.com/moving-average-crossovers/

EOD Analysis CNX Nifty - 27 01 2012 - Hanging on to the 200DMA

Nifty - End of Day Chart - 27  Jan  2012

We checked out some Candle patterns in the past couple of weeks. The one circled in red here. The one in Blue here. The Nifty saw and conquered the 200 DMA and is hanging on with the candle pattern shown in green :) Here are some weekend reads from some free resources on the net. The question now is ... Bullish continuation or Bearish reversal ?

Hanging Man


http://www.thepatternsite.com/HangingMan.html
http://www.investopedia.com/terms/h/hangingman.asp#axzz1kf2t3zO9
http://www.candlesticker.com/Cs26.asp

EOD Analysis CNX Nifty - 24 01 2012 - Bulls peep above 34 EMA on week chart.

Nifty - End of Day Chart - 24  Jan  2012

In our 'Looking Forward' section of the last post (here) - we needed the Bulls to break out of our range. The Nifty negated the Bearish Candle pattern yesterday and trading above last week's close early today,  used some fundamental reasons to break our range and eye the 200 DMA, meanwhile Price is just above the crucial 34 EMA on the EOW charts. The throwback to channel - a healthy need for a stronger up move - is still missing. 

S&P 500 - End of Week Analysis - Monthly channel breach?

S&P 500 - EOW Analysis - Week 16-20  Jan 2012.

We had observed last week (post here) that the price could break either of the channel lines it was between. Price closed above the red channel line which is the channel bottom of the monthly channel (from here). With 10 days to go for the month to end, bulls just need to keep it above the red line for monthly momentum to remain on their side.  Déjà vu ?

Update with 60 Min - 06 01 2012 - Revisit the 34EMA..Bingo!

Nifty - 60 Minute Chart - 02 to 06 Jan 2012

In our last post on this subject (here) we concluded that the Nifty was good for another go at the blue 34EMA line - world cues willing. We got the world cues with a channel break (here) and as one can see below the purple arrow head - Bulls would have anticipated the 100 point move from sub 4700 to 34EMA around 4800 ! 

S&P 500 - End of Week Analysis - Channel Break!

S&P 500 - EOW Analysis - Week starting 02 Jan 2012.

Our last post on this subject anticipated a 'retreat from' or 'break of' the top line of the falling channel shown above. We have a break. The break of the upper channel line of a weekly channel should have the price shooting up....however we observe from our monthly study (here) that all this is a pullback to the bottom of the monthly channel which is officially breached if Jan 2012 closes above 1303. So we wait for that event and watch the space around the weekly channel top where the action will now be centered.

Update - End of Day 07 12 2011

As mentioned last weekend (post below) we anticipated some ranging around the Blue line - check out the Price line's tip which shows the same... Nifty also stayed above the 34 EMA... Failure by the Bulls to get going now, would invite the Bears to take a dash at our lower mark the Fib 61x ..

S&P End of Month November 2011

SP-500 End of Month Chart - End November 2011

Last Month's analysis noted that the S&P 500 plunging to our mark on the channel line..on the last trading day was bad news for the Bears....and so it turned out to be...this month we notice that the Price line is hugging the channel bottom and seems inclined to have another go at breaking it....1285 is the mark to beat, End of Month December 2011, for this to happen...

S&P End of Month - October 2011

SP-500 End of  Month Chart - End October 2011

Last Month's Post (from Mailbox)

On Tue, Nov 1, 2011 at 6:57 AM, @gmail.com> wrote:

Hi,

October 2011 ended...we wanted to see if the S&P (US) would pierce the Monthly channel line...see attached chart....on the last day of October, the index fell 2.5% :) to close in what looks exactly like a pullback to channel....leaving the Bulls real worried...(next hope is if November 2011 will close above 1266)...final reading for October 2011 is 1253 (double check with yahoo or other sites) and Bulls wanted the index comfortably above this level on month end ...