Learning from last Week: (click here for the previous post)
Patterns:
Index closes the week on the neckline of a 'Head and Shoulder' Pattern #DaiyChart1 Link(Click)
Support & Resistance:
Day Fork's middle Tyne and 13MA were resistances #DayChart1
Index closes below the 50 MA and Day Fork's bottom Tyne #DayChart1.
Moving Averages:
The critical EMA 5, bearishly below the MA 13 on all except month screen #MonthChart1.
Indicators:
The STC stays, well above the 76% Fibonacci retrace #MonthChart2.
Wrap:
Bears close below the Day Fork, Bulls close above the neckline of the H&S pattern #DayChart1.
Looking forward into this Week:
Patterns:
Head & Shoulder pattern is active on the Day chart (Study links here, here or elsewhere) Bears need the Index crashing below the neckline #DayChart1.
Support & Resistance:
Bottom Tyne of the Fork on the Day chart is the first resistance #DayChart1. Neckline of the Head & Shoulder Pattern is the first Support (Link).
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen #DayChart1.
Indicators:
The MACD and its histogram, are below zero #DayChart2.
Wrap:
Bears look to break the H&S neckline and get below last week's low 8541 #DayChart1.
Bulls want to break the current down trend, by getting above 8808 #DayChart1.
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Index clears June high after popping above the Kumo #W2.
Chikou Span halts at the Price line, Tenkan Sen clears Kumo top #W1,
Bears give up the June high #W2.
Wrap:
Index clears June high, Chikou Span halts at the Kumo #W1.
Looking Forward into this Week:
Bulls now want Higher Highs and Higher Lows #W2.
Bears want the index below the Tenkan Sen #W2.
Chikou Span nudging the price line - bearish cross or bullish deflection, on next #W1.
Wrap:
Bears look to use current resistance to get some red on the screen #W2.
Bulls want to keep clear of the Kumo and get the Chikou Span into the Kumo #W2.
Learning from last Week: (click here for the previous post)
Patterns:
After the 'Evening Star' pattern triggers on the long term screen #MonthChart1, Index faces resistances at the Week and Day forks.#WeekChart1, #Daychart1.
Support & Resistance:
Resistance was again at the middle Tyne of the Week Fork #WeekChart1. Support near the 5 EMA on the Month chart #Monthchart1.
Moving Averages:
The critical EMA 5, is bullishly above the MA 13, only on the Month Chart #Monthchart1.
Indicators:
The RSI is near the oversold #WeekChart2.
Wrap:
After the Evening Star triggers on the Month Chart #MonthChart. Bears move index down and get a red weekly candle #WeekChart1.
Looking forward into this Week:
Patterns:
'Evening Star' Pattern (Study Links here, here or elsewhere) is active on the Long term charts #MonthChart1.
Support & Resistance:
5 EMA on the Month chart is support #MonthChart1. Middle Tyne of the Fork on the Week chart is resistance #WeekChart1.
Moving Averages:
5 EMA on the Month chart i,e, 2141, is the support Bulls want to defend #MonthChart1.
Indicators:
TSI returns from resistance at the 74% Fibonacci mark #MonthChart2.
Wrap:
Bulls after allowing an Evening Star #MonthChart1, need a comeback, staying above 2141.
Bears want to keep below the middle Tyne of the Week Fork #WeekChart1 and aim for life below 2141.
Learning from last Week: (click here for the previous post)
Patterns:
Last week's action triggers a "Bullish Harami' #WeekChart1.
Support & Resistance:
Day Fork's middle Tyne sends back the Bulls #DayChart1
Index closes just below the 50 MA #DayChart1.
Moving Averages:
The critical EMA 5, bearishly below the MA 13 on all except month screen #MonthChart1.
Indicators:
The STC stays, well above the 76% Fibonacci retrace #MonthChart2.
Wrap:
Bears close below the 50 MA #DayScreen, Bulls produce a Bullish Harami #WeekChart1.
Looking forward into this Week:
Patterns:
Bullish Harami is active on the week charts (Study links here, here or elsewhere) #WeekChart1. A close above 8698 this week, triggers a 'Three inside up'
Support & Resistance:
Bottom Tyne of the Fork on the Day chart is the first support #DayChart1. The Middle Tyne of the Week Fork is the resistance.
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen #DayChart1.
Indicators:
The MACD and its histogram, are below zero #DayChart2.
Wrap:
Bears look to stay below the 50 MA and fall below the Day fork #DayChart1.
Bulls want more green with a weekly close above 8698 #Weekchart1.
