CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 02 April to 06 April, 2012 - Bulls hold steady

Recap:

Our view last weekend was that, staying above the wall and the 34 EMA, Nifty would be Bullish.

On cue, we have a green candle, albeit for a truncated week.

We see that on the EOD, there is a Bullish cross of the 5 EMA and 13 SMA.

MACD on the EOD, continues to hang below the zero mark.

Let us study the way forward.

Nifty 50: Long Term View (or) Month Chart, each candle is 1 month's price action (or) EOM Chart:

CNX Nifty 50 - End of Month (EOM) Chart - 05 April, 2012. 

The Bearish Harami, we studied last weekend, remains un-triggered.

The candle for April is green, it takes support on the 13 SMA, above the 5 EMA.

Long Term Bulls, anticipate the cross of the 5 EMA above the 13 SMA. 

Bears hope that these MA lines, would 'touch and go' (reverse).

This screen is currently Bullish.

Nifty 50: Medium Term View (or) Week Chart, each candle is 1 week's price action (or) EOW Chart:

CNX Nifty 50 - End of Week (EOW) Chart - 05 April, 2012.

The candle for the week shows us the lack of confidence at higher levels(long upper tail).

Its well above the 34 EMA and currently Bullish.

Do notice the channel support, marked on the Stochastic indicator (below) also.

Nifty 50: Short Term View (or) Day Chart with closing prices in a line graph (or) EOD Chart:

CNX Nifty 50 - End of Day (EOD) Chart - 05 April, 2012.

In our EOD Analysis intra week (click for post),  we noted the MACD's sub-zero position.

We see that there is a Bullish cross of the 5 EMA above the 13 SMA.

Price is above the 34 EMA, which for a change has started raising.

The index made another lower high (see the three lower highs (and lows) from 01.02.12).

The short term view is Neutral.

Looking Forward:

Bulls have a good take off point staying above the 5 EMA on the EOD.

Below our 'green' channel bottom on EOD, Bears take strength.

The first trading day after a truncated week, would mean a lot of catching up.

Intra Week updates shall be up.

S&P 500 - Triple Screen 'Technical Analysis' - Week: 02 April to 06 April, 2012 - Bear revisit.

Recap: 

Our Intra week update (click to see), saw the Bulls on the EOD channel Support. 

We have a Bearish Crossover 5 EMA /13 SMA (EOD screen), towards week close. 

Index has closed however, within our yellow EOD channel.

Bears have revisited the index, with a Bearish Harami on the Week charts.
We analyze the S&P 500, this weekend, to understand the way forward.

S&P 500: Long Term View (or) Month Chart with closing prices in a line graph (or) EOM Chart:

S&P 500 - End of  Month Chart (EOM) - 05 April, 2012. 

We have introduced a 34 period Moving VWAP on all screens. 

MVWAP was already studied here (click to see ) or go direct to study (use this link). 

The color of the line for this month is red.

Long term view, from this chart is Bullish as ever, at this time.

S&P 500: Medium Term View (or) Week Chart, each candle is 1 week's price action (or) EOW Chart:

S&P 500 - End of  Week Chart (EOW) - 05 April, 2012.  

Last week we noticed that the RSI was below the 3 MA. That was the key.

We have a red candle and another Bearish Harami (all the recent 4, are shown with arrows).
Current status is neutral for this chart, and Bears still have work to do.

Staying above the 5 EMA, Bulls can charge up, to the 'red' month channel top.

S&P 500: Short Term View (or) Day Chart where each candle is 1 day's price action (or) EOD Chart:

S&P 500 - End of  Day Chart (EOD) - 05 April, 2012.  

The last candle of the week slipped below the channel support. It closed just on it.

The Bearish cross of 5EMA below the 13 SMA happened.

Moving VWAP 34, is the next support for the Bulls.

Looking forward: 

Bulls are hanging on to channel support.

The Price is above the M VWAP 34 (EOD), where it took support in the last dip.

If the Bulls stray below the MVWAP 34 (EOD), their next stop is the White(week) Channel line.

Keeping above the 5 EMA on the Week screen, this dip can produce a sling effect, to take the Index to the Red (month) channel top line.

Short Term charts say: "Time to Bear it".

The BSE 30 - Ichimoku Study - Week: 02 April to 06 April 2012 - Bulls stay in..

Quick Reference : 

The Tenkan Sen - red line, 

The Kijun Sen - blue line, 

The Chikou Span - purple line, 

The Senkou Span A - black line, 

The Senkou Span B - grey line, 

The Kumo - grey shaded area.

Useful resources (free) from the Web:

http://www.freestockcharts.com/
http://www.kumotrader.com/ichimoku_wiki/index.php?title=Main_Page

BSE 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud:

The BSE Sensex 30 - End of Week Chart - 02 to 06 April 2012  

Last 6 Signals seen on BSE 30 - Week Chart (EOW) in brief: For details see here and here :

1. Senkou Span Cross: Strong Bearish Signal
2. Chikou Span Cross: Weak Bullish Signal
3. The Kijun sen cross: Weak Bullish Signal
4. The Flat Kumo: Bullish Signal

5. The Tenkan Sen/Kijun Sen Cross: Weak Bullish Signal
6. The Kumo Breakout: Bearish Signal

In our study, we consider as important, the signals of the previous posts, summarized above.

Here are what, the above medium term chart, tells us this week.

A. This week's green candle was resisted at the Tenkan Sen (red line) - breaching this line is a preliminary signal of trend reversal in the medium term.

B. The candle was completely within the Kumo - neutral zone. Last week it took support on the Kijun Sen and MVWAP. Strength to Bulls.

C. The Senkou Span A&B (black and grey lines) look like they may cross soon. If the price at the time of Cross is still within the Kumo, this cross would be neutral.

In a screen which was all Bear, couple of weeks ago, we have the Bulls with their noses firmly in, so far as the medium term view goes.

BSE 30: Short Term View (or) Day Chart (or) EOD with the Ichimoku Cloud:

The BSE Sensex 30 - End of  Day Chart - 02 to 06 April 2012  

Last 5 Signals seen on BSE 30 - Day Chart (EOD) in brief: 

1. Kumo Breakout: Strong Bullish Signal

2. Tenkan Sen/Kijun Sen Cross: Weak  Bearish Signal

3. Chikou Span Cross: Weak Bearish Signal

4. Senkou Span Cross: Neutral Bullish Signal

5. Kijun Sen Cross: Neutral Bullish Signal

In our study we also consider as important, the previous signals, summarized above.

As anticipated last week (click for post) we had an up move after the Senkou Span Cross was found 'not bearish' but neutral. The other points of interest for the week are...

D. The Chikou Span (purple) is interestingly poised for another go at the price line.

E.  Price which breached the Tenkan Sen (red line) last week, did move up after that.

F. The Senkou Span (Black and grey lines) Cross that we got, was Neutral, as the price was inside the Kumo last week.

G. The Kijun Sen (blue line) Cross, also turned out to be neutral, for the same reason.

I: Price is resisted once again at the Moving VWAP.

Bulls and Bears are well matched, in the short term based on last week's action, a slim bias, favors the Bulls.

The Dow 30 - Ichimoku Study - Week: 02 April to 06 April 2012 - Bears get a toehold..

Quick Reference : 

The Tenkan Sen - red line, 

The Kijun Sen - blue line, 

The Chikou Span - purple line, 

The Senkou Span A - black line, 

The Senkou Span B - grey line, 

The Kumo - grey shaded area.

Useful resources (free) from the Web:
http://www.freestockcharts.com/
http://www.kumotrader.com/ichimoku_wiki/index.php?title=Main_Page


DJI 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud:

DJI 30 - End of Week Chart - 06 April 2012  

Last 5 Signals seen on DJI 30 - Week Chart (EOW) in brief: For details see here and here :

1. Senkou Span Cross: Neutral Bullish Signal

2. Chikou Span Cross: Strong Bullish Signal

3. Tenkan Sen/Kijun Sen Cross: Neutral Bullish Signal

4. Kumo Breakout: Bullish Signal

5. The Flat Kumo: Bearish Signal
In our study, we consider as important, the signals of the previous posts, summarized above.

The inputs we get from the medium term view this week are..

A. Last week's candle took support on the Tenkan Sen (red line) - breaching this line would be the first indication of trend change from medium term view.

B. The Kijun Sen (Blue line) has started a sharp up move towards the price line.

C. The Chikou Span (Purple line) has started dipping towards the Kumo.


Bulls are still in dominance, from a medium term perspective.

DJI 30: Short Term View (or) Day Chart (or) EOD with the Ichimoku Cloud:

DJI 30 - End of  Day Chart - 06 April 2012  

Last 5 Signals seen on DJI 30 - Day Chart (EOD) in brief: 
1. Kumo Breakout: Strong Bullish Signal
2. Flat kumo: Bearish Signal
3. Tenkan Sen/Kijun Sen Cross: Strong Bullish Signal
4. Chikou Span Cross: Strong Bullish Signal
5. Kijun Sen Cross: Strong Bullish Signal
In our study we also consider as important, the previous signals, summarized above.


Do notice, that the 34 period Moving VWAP, is now in dotted Blue, and that the Price has dipped below it. This week's inputs...
D. The Chikou Span (purple line) is just about touching the price.
E. Price has crossed below the Tenkan Sen (red line) - indicating possible trend change to bearish in the short term.
F: Price has closed just above the Kijun Sen (blue).
G: Divergences on the Oscillator indicate weakness, however the oscillator hangs well above zero.


Bears have gained a toehold, in last week's action, in the short term view. 

EOD Technical Analysis, S&P 500 - 04 April 2012 - Bulls on Channel Support..

Nifty - End of Day - 04 April  2012     

We concluded Triple Screen Technical Analysis, last weekend (click to see),  with a note that the short term MAs viz. 5 EMA, 10 EMA and 13 SMA, be watched closely ( EOD). So here is an intra-week update.

Bears did press home their mild advantages, the last three candles in the circle marked belong to the first 3 days of this week. As you can see the Bears have closed below our short term MAs and taken support exactly on our channel's bottom line.

Bulls remain in the game, if above the channel bottom. We look at channel break, or bearish cross of the 5 EMA below the 13 SMA, to give us an indication of Bear strength.