BSE Sensex - Ichimoku Study - Kumo Attacked - Week 2 of June 2015.

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

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

Bears attacks the Kumo, after Price deflected bearishly at the Chikou Span the previous week #W1.
Gap between the Senkou Span A & B  narrows further #W3.
Gap between the Tenkan Sen and the Kijun Sen is steady #W2.


Wrap: 
Bears holding on to a Bearish Tenkan Sen-Kijun Sen Cross & Chikou Span Cross, attack the Kumo #W1 &W2.
Bulls are left with their last straw Senkou Span A & B cross -  #W1.



Looking Forward into this Week:

Chikou Span can recross the Price line Bullishly, if the index bounces out of the Kumo #W1.
Narrowing gap between the Senkou Span A & B, makes a bullish deflection or bearish cross, imminent #W3.
Bull hope rests on getting back above the rather thick Kumo (Study Links here, here or elsewhere) #W2.



Wrap:
Bulls hope to repulse the attack on the rather thick Kumo, get the Chikou Span above the Price line and manage a deflection of the Senkou Span A & B  #W1. 
Bears look to stay in the Kumo, retaining the Bearish Crosses #W2.

Say....

S&P 500 - Triple Screen 'Technical Analysis' - Bear Nose in - Week 1 of June 2015.

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

Patterns:

• Index throws back to the Ascending Triangle's Top line and slides below it, staying  within the Day Channel #D1.

Support & Resistance:

• Index was resisted near the ATH (All Time High) #D1, while support was around the 13 SMA on the week chart #W1.

Moving Averages:  

• The all important, 5 EMA and 13 SMA, in the medium term view #W1, continues to stay deflected bullishly.

Indicators:

• RSI 13 is in the 50s #W2.

Wrap:

Bulls fail to keep the index above the ascending triangle #D1 and lose control of the Short term screen, while the Bears could not take it below the 5 EMA on the EOM for the 4th month running #M1.

Looking forward into this Week:

Patterns:

• Ascending Triangle and its behaviour, on the Day Chart, worth a study (Study Links here, here or elsewhere) #D1.
• Bulls keep the index above the Long term 5 EMA, for the 4th month running. The last two month candles #M1, are green and resemble spinning tops (Study Links here, here or elsewhere).

Support & Resistance: 

• 5 EMA on the Month Chart (2077) #M1, is the Index Support that Bears want to get below. 
• Bulls seek to clear the ATH line #M1 with a clear break out from the Ascending Triangle #D1. 

Moving Averages:

• Bulls by closing this Week above 2058, get to keep the 5 EMA above the 13 SMA on the Weekly Charts  #W1.

Indicators:

• TSI, support at the 61.8% Fibonacci retrace, good for the Bulls #M2.

Wrap:

Bulls, back inside the ascending triangle, look for a breakout and a resumption of the Bull run #D1.

Bears after taking over the short term screen, look for a close below 2077 to stay in the red #M1.

The Dow Jones - Ichimoku Study - Tenkan Sen Holds - Week 1 of June 2015.

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

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

After the Index made a red ATH, it fell to the Tenkan Sen Support last week #W2.
Gap between the Tenkan Sen and Kijun Sen steady #W2.
Senoku Span A & B, gap steady #W3.
Chikou Span at the Price line #W1.

Wrap: Index takes support at the Tenkan Sen, Chikou span reaches the Price line #W1.



Looking Forward into this Week:

Bears eye the dwindling Thin Kumo #W2 (Study Links here, here or elsewhere) for an opportunity to dive into the Kumo.
Cross of Tenkan Sen, to below the Kijun Sen, is next on Bear wishlist #W2.
Chikou Span set for a Bullish deflection or Bearish Cross at the Price line #W1.


Wrap: Bulls look to stay above the Tenkan Sen, Bears look for a Bearish Cross of the Chikou Span and the Price line #W2. 

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Pin Drops - Week 1 of June 2015.

 

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

 

Patterns:

• Index, after triggering a long term Three Outside Down earlier - produces a Bullish Harami with the last two candles #M1.
• Week Chart sees a Pinbar as part of a Bearish Harami - see last two candles #W1.

Support & Resistance:

• Index closes 10 points above the 38.2% Fibonacci retrace (8424) 'of the May 2015 low to the ATH'  #D1  and at the daily 50 SMA #D1.
• Earlier in the week, the weekly 50 SMA #W1, was approached and the congestion area having the daily 5 EMA, 13 SMA and 200 SMA, overcome #D1.

Moving Averages: 

• The critical 5 EMA and 13 SMA on the Monthly charts, gets closer for a Bullish deflection or a Bearish cross #W1.

Indicators:

• MACD and its MA stay below the zero line and its Histogram stays above this line #D2.

Wrap:

Bulls after a deep dive below the 38.2% of the move from the 'ATH to the May 2015 bottom' manage to close just above this line #D1.

Bears defend the daily 50 SMA #D1 and halt the index, near the blue middle line of the new Day Channel #D1..

Looking Forward into this Week:

Patterns:

• A Bullish Harami (Study Links here, here or elsewhere) #M1 is active on the long term chart. A Bearish Harami (Study Links here, here or elsewhere) #W1 is active on the medium term chart. Watch for the Three inside 'up or down' forming next.
• A Pinbar (Study Links here, here or elsewhere) #W1 is apparent on the weekly chart.
• The Fibonacci retrace from the ATH to the May 2015 bottom and its retrace possibilities are worth a study (Study Links here, here or elsewhere).

Support & Resistance:

• Bulls face resistance at the 61.8% Fibonacci retrace (8686) 'of the May 2015 low to the ATH'  #D1  Support is available, at the Day Channel's bottom line #D1 and the 76.4% Fibonacci retrace (8040) 'of the 2011 low to the ATH'  #W1 

Moving Averages: 

• Golden Cross (study here, here or elsewhere) of the 50 & 200 SMA is on - these MA's are currently converging #D1.
• The 5 EMA and 13 SMA on the Medium Term charts would cross Bullishly with a weekly close above 8606 #W1.

Indicators:

• Bulls hope that the TRD would rise from support at the 50% mark this month #M2.

Wrap :

Bulls look to stay above the 38.2% Fibonacci retrace (8424) 'of the May 2015 low to the ATH' and close above 8606 #D1 .

Bears, holding the Daily 50 SMA seek to get to below the 76.8% Fibonacci retrace (8040)  as marked #W1.