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US - S&P 500 - Triple Screen 'Technical Analysis' - Cup and Handle? - Week 3 of December 2015.

 

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

Patterns:.

• Index after a couple of Dojis, crashes to support #W1.
• The combination of the Big 'W' and the new Day Channel #D1, make a neat 'Cup and handle' pattern.

Support & Resistance:

• Index again took support at the Channel bottom of the Day Chart #D1 - it failed to make upward progress from previous week's Doji's close #D1.

Moving Averages:  

• The 5 EMA and 13 SMA, on the Weekly Screen poised to cross bearishly or deflect Bullishly #W1.

Indicators:

• RSI 13, hesitates and falls at the oversold mark  #W2.  

Wrap:

Bears keep the index below the Week Channel bottom (orange) once again #W1.

Desperate Bulls produce the 'Handle' of the 'Cup and Handle' pattern with the Day Channel action #W1.

Looking forward into this Week:

Patterns:

• The 'W' pattern on the Day Chart is still in play (Study Links here, here or elsewhere) #D1.
• A 'Cup and Handle' pattern is active on the charts #D1, #W1 & #M1 (Study Links here, here or elsewhere) so long as a Handle is viable on any relevant time frame.

Support & Resistance: 

• Day Channel bottom (pink) #D1 is support.  Index Resistance is the Week Channel's Bottom line (orange) #W1,

Moving Averages:

• Death Cross on the EOD, is active as long as the 50 SMA and the 200 SMA stay crossed Bearishly (Study Links here, here or elsewhere) #D1,

Indicators:

• STS touches the over bought line #D2.

Wrap:

Bulls hope for rewards from the big 'W' pattern #D1, with a breakout from the ATH #M1.
Stoic Bears use the resistance at the Week Channel bottom (orange) #W1 to send the index down #D1 potentially forming a 'Cup and Handle Pattern'.

Europe - CAC 40 - Ichimoku Study - Kumo Support - Week 3 of December 2015.

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

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

Senoku Span B provides precise support last week, after Bulls saw resistance at the Senoku Span A as studied #W1. 

Neutral Bullish cross of the Tenkan Sen to above the Kijun Sen yet to help Bulls W2..
Senoku Span A & B, steady #W3.

Wrap: 

Bulls halt the slide at the Kumo bottom #W2.

Looking Forward into this Week:

Chikou Span turning up and crossing above the Price line, is the current Bull wish #W1.

Index is now vacillating inside the Kumo, Bulls now see resistance at the Senoku Span A #W2.

Bullish cross of the Tenkan Sen to above the Kijun Sen, is 'Neutral' as it occurred when the price was inside the Kumo #W2.

Wrap:

Bears look to crash the index below the Kumo #W2.
Bulls seek get above the Kumo from current support #W2.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Channel Wars - Week 3 of December 2015.

 

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

Patterns:

• Shooting Star, was active on the Long Term Screen #M1.
• Medium Term Channel bottom reached, bulls and bears war over this support #W1.

Support & Resistance:

• Last week the Bulls support at the Week channel's bottom #W1. Bears halt the index near the Weekly 5 EMA #W1.

Moving Averages: 

• The critical 5 EMA and 13 SMA, cross Bearishly on the Day Chart #D1.

Indicators:

• On the Day chart the  MACD and its MA cross bearishly, staying below zero, Histogram ticks down #M2. This low of the Indicator is a divergence to the low of the Price #D1, #D2.

Wrap:

Bulls take support near at the Day Channel middle line #D1. 
Bears defend the weekly 13 SMA for the second week in a row #W1.

Looking Forward into this Week:

Patterns:

• Shooting Star, is active (Study Links here, here or elsewhere) on the Long Term Screen #M1 for December.

Support & Resistance:

• Index has immediate support at the S2 of the Month Pivot #M1. Resistance is at the weekly 50 SMA #W1.

Moving Averages: 

• The Death Cross (50 and 200 SMA) is active D1.

Indicators:

• The STS hovers above the oversold, with a positive divergence to price, a take off to the Over Bought is the Bull ask #W2.

Wrap :

Bears want to press for a weekly close, below the Week Channel bottom (green) line #W1.
Defending the monthly pivot's S2 #M1, Bulls seek the weekly 50 SMA #W1.

China - SSEC - Ichimoku Study - Tenkan Sen Holds - Week 3 of December 2015.

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

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

Index takes support at the Tenkan Sen, with a slip to below the Kumo #W2.
Chikou Span stays below the Kijun Sen #W1.

Senkou Span A & B, stay crossed Bearishly and rise #W3.

Wrap: 

Index steadies with support around the Tenkan Sen #W2.
Bear see resumption of the down trend, after the Senoku Span Cross #W3.

Looking Forward into this Week:

Bearish Senoku Span Cross is active (Its called a 'Neutral' Bearish cross, because it occurred when the index was on Neutral territory i.e inside the Kumo) #W2.
Bulls seek to get the index inside the Kumo #W2,.
Bulls continue to need the Tenkan Sen support #W2.

Wrap:

Bears push for a continuation of the down trend, after the Senoku Span Cross #W3.

Bulls seek life in the Kumo and a steady up-move W2 .