S&P 500 - Triple Screen 'Technical Analysis' - Channel Support - Week 3 of March 2015.

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


Patterns:

• After triggering a 3 Inside down, on the weekly charts, Bears drive down to the Day channel's bottom #D1.
• Bulls have History on their side #M1 & #M3, and Day Channel Support #D1, for a resumption of the Bull run. 

Support & Resistance:

• 5 EMA on the Weekly charts (2080) was the resistance that Bulls could not clear, while the Bears could not break below the Day Channel Bottom #D1.

Moving Averages:  

• The all important, 5 EMA and 13 SMA, on the medium term screen, poised to cross Bearishly or deflect Bullishly this week #D1.

Indicators:

• RSI 13 is well into the 50s #W2.

Wrap:

Bears hit the support #D1, after falling with the 3 inside down #W1.

Bulls halt the fall and hold on to a Higher Low on the EOD #D1.

Looking forward into this Week:

Patterns:

• Bears have to continue to work the Medium term Three inside down (Study Links here, here or elsewhere) #W1, again, to keep the advantage.
• Bulls look to History (re-look) #M1 & #M3, and the Day Channel's Bottom line #D1, for a resumption of the Bull run.

Support & Resistance: 

• 5 EMA on the Weekly charts (2071) is the resistance that Bulls want to stay above, while the Bears would look to break below the Day Channel Bottom and the 200 SMA #D1.

Moving Averages:

• The 5 EMA and 13 SMA on the Week  Charts, would cross Bearishly this week if the index closes below 2040 #W1.

Indicators:

• TSI, taking support on the 60.8% Fibonacci retrace, would hold some cheer for the Bulls #M2.

Wrap:

Bears continue to depend on the 'Three inside down' #W1, on the medium term charts.

Bulls trust History #M1 &#M3, and the Day Channel's Bottom line, to get back to the All time High (ATH). 

The Dow Jones - Ichimoku Study - Thinning Kumo 2 - Week 3 of March 2015.

Learning from the earlier Study: (click here for the post)

Bears take the index down below the Tenkan Sen, following last couple of red Dojis #W2.
Tenkan Sen and Kijun Sen, gap steady #W2.
Senoku Span A & B, gap narrow and steady #W3.


Wrap: Index slips below the Tenkan Sen but Bulls manage to close above it #W2.



Looking Forward into this Week:

Bears eye the Thinning Kumo #W2 (Study Links here, here or elsewhere) for an opportunity to break into the Kumo.
Bearish Cross of Tenkan Sen & Kijun Sen, at current range, next on Bear Agenda #W2.
Chikou Span at current altitude, can meet up with the price line in a few weeks #W1.


Wrap: Bulls look to stay above the Tenkan Sen and make new ATHs, Bears eye the Kumo #W2. 

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Evening Star - Week 3 of March 2015.

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

Patterns:

• Previous week's Doji, forms an Evening Star as studied #W1, and Bears slip below the wall. 
• Bulls have a long term 'Three Outside Up' in progress (last 4 candles) #M1.

Support & Resistance:

• 5 EMA on the EOD #D1, was the constant resistance last week.
• For the last candle on the EOW chart, the 13 SMA #W1, was the Support (for the previous candle, support was the 5 EMA on this chart ).

Moving Averages: 

• The critical 5 EMA and 13 SMA on the EOD, cross bearishly very early last week #D1.

Indicators:

• STS stays in the over bought #W2.

Wrap:

Bulls make a 3 Outside up and make a new ATH #M1. 
Bears defend the Weekly Channel top and follow it up with an 'Evening star' #W1.

Looking Forward into this Week:

Patterns:

• Last week's Evening Star on the Medium Term Screen (Study Links here, here or elsewhere) is active #W1.
• Channel Top resistance of the Medium Term Channel Top, works well for Bears #W1.
• Long Term Charts, see a Three Outside Up (Study Links here, here or elsewhere) #M1.

Support & Resistance:

• Index resistances that the Bulls would want to get above this week, are 8684 (Wall for March 2015)  and the medium term 13 SMA (8652).
• Support Levels that the Bears want to get below, are S1 on the Monthly Pivot #M1 and 8555 (5 EMA on the Monthly Charts).

Moving Averages: 

• Golden Cross (study here, here or elsewhere) of the 50 & 200 SMA is on - these MA's are currently flat #D1.

Indicators:

• STS, staying above the overbought line, demonstrates the Bull domination of the Medium and Long Term Screens #W2.

Wrap :

Bulls look to use the '3 outside up' #M1 on the Monthly charts, to get back above the wall. 
Bears depend on the medium term Channel top resistance, and the 'Evening Doji Star', to stay below the Wall #W1.

BSE Sensex - Ichimoku Study - Tenkan Sen Taken - Week 3 of March 2015.

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

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

Index retests the Tenkan Sen after the deflection - as seen in some earlier deflections #W2.
Senkou Span A & B - gap widens W3.
The gap between Tenkan Sen and Kijun Sen, increases #W2


Wrap: Index slips below the Tenkan Sen, after deflection #W2



Looking Forward into this Week:

A Bearish, Chikou Span cross, with Price line, at current altitude, will need a few more weeks #W1.
Tenkan Sen and Kijun Sen had deflected bullishly - study of previous deflections and behaviour of price, after the deflection, continues to be useful #W2.


Wrap: Bulls look to getting above the Tenkan Sen, whereas Bears press for life below the 'Kijun Sen' #W2.

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