China SSEC - Ichimoku Study - Kumo Saves again - Week 2 of September 2015.

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

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

Bulls get another save, at the Kumo #W1.
Chikou Span stays below the Price line #W1.

Gap between the Senkou Span A & B, narrows to touch point #W3.

Wrap: 
After the Bearish cross of the Tenkan Sen and Kijun Sen #W2 previously, Index confirms a bearish Chikou Span cross #W1.
Bulls find a repeat support at the Kumo #W2.

Looking Forward into this Week:

Bearish Tenkan Sen & Kijun Sen Cross (its called a 'weak bearish signal' as it occurred when the index was Bullish i,e. above the Kumo) works well for the Bears #W2.
Bears now need to get the Price line back in the Kumo, to keep dominance of this screen #W1. 

Gap between the Senkou Span A & B at #W3, is near closing - possibility of a Bullish Deflection or Bearish Cross, keeps Bulls and Bears on call.


Wrap:

A Bearish Senoku Span cross and a weekly close inside the Kumo #W3, are what the Bears hope to achieve this week.

Getting back above the Tenkan Sen #W2, with a re-cross by the Chikou Span, to above the Price line #W1, is the priority for Bulls.

Brent Crude Oil - Ichimoku Study - Tenkan Sen Rejection - Week 2 of September 2015.

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

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

After the index made a Lower low and Higher High (May 2015) #W1, #W2 - Bulls reach up to the Tenkan Sen as hoped #W2.
Chikou Span points down away from the Price line #W1.
Gap between the Senkou Span A & B,  wide and steady #W3.
Gap between Tenkan Sen and Kijun Sen, widens - they remain crossed bearishly #W2.


Wrap: 
Bulls, with all Signals against them, touch the Tenkan Sen and face rejection #W2. 
Bears defend the Tenkan Sen effectively #W2.



Looking Forward into this Week:


Chikou Span reaching the Price line, would take a couple of weeks at current rate, this is good for Bears #W1.
Gap between the Senkou Span A & B is wide at #W3 & above the last Price point, making a thick Kumo - and a strong resistance to an up-move #W3.
Tenkan Sen & Kijun Sen, are in a Bearish cross, the gap between them is widening - Bull's hope for a re-cross, fading fast #W2.
Index closing above the 'Tenkan Sen', is the next Bull hope #W2.


Wrap:
Staying above the previous low, and closing above the Tenkan Sen #W2, is the next Bull task.
Dominant Bears seek more red weeks, and an even wider gap between the 'Tenkan Sen and the Kijun Sen'.

Say....

S&P 500 - Triple Screen 'Technical Analysis' - Pin Bar - Week 1 of September 2015.

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

Patterns:

• The 'Closing Black Marubozu' of the previous week produces deep dive and  a come back, resulting in a pin bar candle for last week #W1.

Support & Resistance:

• Support was at the MVWAP 34 as marked on the Month Screen #M1 and exactly as studied in the previous post. Resistance for the Bears (at week close) was around the previous low, marked by the mid-line of the Day Channel #D1.

Moving Averages:  

• The 5 EMA and 13 SMA, on the month screen, shows a bullish cross with one day to go, for month close #M1.

Indicators:

• RSI 13, after meandering in the middle of the range for a year #W2, finally goes oversold and now points up.  

Wrap:

Bears continue their dive from the previous week, run into our mark, the MVWAP34 on the EOM, and then return the index to the previous low #D1.
Bull action produces a pin-bar for the week #W1.

Looking forward into this Week:

Patterns:

• Pin-bar candle on the Medium Term Charts is active (Study Links here, here or elsewhere) #W1.

Support & Resistance: 

• MVWAP 34 on the long term screen (once again) is the support that Bulls want to stay above #M1 . Index has resistance at the daily 200 SMA  #D1. 
• We have a new and less steep, Month Channel (blue) #M1.

Moving Averages:

• On the EOM, the 5 EMA and the 13 SMA, will maintain a Bullish Cross, if August 2015, closes above 1978 #W1,

Indicators:

• TSI is near the 50% retrace #M2.

Wrap:

Bulls look to use the pin-bar to catapult their way back above the daily 200 SMA.

Bears look to force their way below the monthly MVWAP34 #M1.

Europe CAC 40 - Ichimoku Study - Kumo Bounce - Week 1 of September 2015.

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

After the Bearish Tenkan Sen - Kijun Sen Cross, Bears dive below the Kumo, and close just above it #W2.

Chikou Span, remains below the Price line #W1.

Gap between the Senkou Span A & B, minuscule #W3.

Gap between the Tenkan Sen and Kijun Sen narrows sharply #W3.

Wrap: 

Bulls after making it halfway to the Kumo last week, have another sharp fall and do well to close above the Kumo #W2. 

Bears again finally take advantage of the Bearish Cross of the Tenkan Sen & Kijun Sen #W2, with a massive fall, but fail to conquer the Kumo on closing basis.

Looking Forward into this Week:

Chikou Span is crossed  below the Price line (Its called a 'Weak Bearish cross because it occurred when the index was Bullish i,e above the Kumo) #W1.

Index coming back to close above the Kumo, gives the Bulls some vigour #W2.

Gap between the Senkou Span A & B around the last Price point is narrow and is getting narrow at W3. This means a thin Kumo - and a weak support for the Bulls for now #W3.

The narrow gap between the Tenkan Sen and the Kijun Sen, good for Bulls, as a re-cross is easier #W2.

Wrap:

Despite the Price bounce off the Kumo, Bears can use the advantage of the recent red on the screen #W1, #W2, to attempt a retake of the Kumo.

Bulls see the Kumo as the major support from where they can aim for the Tenkan Sen #W2.