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

 

 

 

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


Patterns: 
Previous week's candle, a 'High Wave', is followed by a large 'Closed White Marubozu' #W1. H&S formation is history.

Support & Resistance: 
Middle Tyne of the fork on the day screen #D1, was the resistance last week, The weekly 5 EMA was the nearest support.

Moving Averages:
The critical 5 EMA, is bullishly above the 13 SMA, on all screens.

Indicators:  
STS touches the Over bought #D2.


Wrap: 
Bears again keep the index below the previous High #W1. Bulls have a huge green week #W1.




Looking forward into this Week:


Patterns: 
'Closed White Marubozu' (Study Links here, here or elsewhere), is active on the Week Chart #W1.

Support & Resistance: 
Last High (2116) continues to be the resistance to beat. The Daily 222 SMA, is still the support, that Bulls want to stay above #D1.

Moving Averages: 
The 55 & 222 SMA, is a in a 'Golden Cross' on the Day Screen #D1.

Indicators: 
TSI is facing resistance at the 61.8% mark #M2.


Wrap: 
Bulls, after fading the H&S formation, are making another attempt at a higher high (2116+) #W1.
Bears aim to return the Index at the middle tyne of the fork #D1.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Range Top - Week 1 of June 2016.

 

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

Patterns:

• Nifty takes off from the Daily 50 SMA #D1, and makes a perfect touch at the top of our range, i.e. the bottom of the Week Channel (green) #W1. A 'Three inside up' on the Day Chart helps #D1.

Support & Resistance:

• 50 SMA on the Day  screen #D1 was again Supporrt. The green channel bottom on the week screen was resistance  #W1.

Moving Averages: 

• The critical 5 EMA, is now bearishly below the 13 SMA, only on the Long term screen #W1.

Indicators:

• The TRD #M2, is nosing above the resistance at the mid point (50% Fibonacci).

Wrap:

Bulls use support at the daily 50 SMA to zip up to the green channel bottom on the week screen #W1.
Bears manage to hold the resistance at the above line #W1.

Looking Forward into this Week:

Patterns:

• 'Three inside up' action dominated the day screen (Study Links here, here or elsewhere) last week #D1.

Support & Resistance:

• Resistance is at R2 (8258 edited) of the Month Pivot #M1, the 'Fibonacci 76.4% retrace of the 2010 low to the ATH'  #W1 is support (8040) #W1.

Moving Averages: 

• A Death Cross (50 and 200 SMA) is active on the day chart, gap between these MAs is almost done, pointing to a possible Golden Cross this week #D1.

Indicators:

• The MACD deflecting off the zero line, is good for Bulls #D2.

Wrap :

Bulls, precisely in touch with the green channel bottom on the week screen #W1, look to climb above it, and target a new ATH. Bears seek to defend this line.

Brent Crude Oil - Ichimoku Weekly Study - Kumo touch - Week 1 of June 2016.

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

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

Chikou Span stays above the Price line, and gets above the Tenkan Sen #W1.
Index reaches the Kumo #W2.
Senoku Spans A and B converge #W3.

Wrap:
Index completes its green strike to the Kumo #W2.




Looking Forward into this Week:

After the bullish Chikou Span Cross, Bears hope for resistance at the Kumo #W1.
Holding the the Chikou Span below the Kijun Sen, important for Bears #W2.
The Senoku Span 'A' crossing above the 'B' is the next Bull ask #W3.

Wrap:
Defending the Kumo is the Bear target #W2.
Keeping the Chikou span above the price line and entering the Kumo is the Bull ask #W2.

Say....