US - S&P 500 - Triple Screen 'Technical Analysis' - Make or Break Zone. -Week 2 of November 2015.

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

Patterns:

• Index noses into the (orange) Week Channel #W1. At this Make or Break zone - an Opening white Marubozu Candle, forms last week #W1.

Support & Resistance:

• Index took support at the 5 EMA on the Day Chart #D1 - it returned near its resistance at the (All Time High) ATH #M1.

Moving Averages:  

• The 5 EMA and 13 SMA, on all the Month Screen is crossed Bearishly - and will stay that way until index closes above 2112 #M1.

Indicators:

• RSI 13, after lift off, from the oversold line, back to hanging around the 50% mark  #W2.  

Wrap:

Bulls nose into the Week Channel #W1.
Bears turn the index back to the Week Channel's Bottom (orange line) #W1.

Looking forward into this Week:

Patterns:

• Opening white Marubozu candle is active on the Medium Term Screen (Study Links here, here or elsewhere) #W1.
• The 'W' pattern on the Day Chart is active (Study Links here, here or elsewhere) #D1

Support & Resistance: 

• 200 SMA on the day chart, is the support that Bulls want to stay above. Index has resistance at the (All Time High) ATH #M1.

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 staying in the oversold, keeps pressure on the Bears #W2.

Wrap:

Bulls now seek the rewards of the big 'W' pattern #D1, with a breakout from the ATH #M1.
Bears look to force the index below the 200 SMA #D1.

Europe - CAC 40 - Ichimoku Study - Breakout, Throwback and Take-off - Week 2 of November 2015.

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

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

Index makes a throwback to the Kumo after breakout, shoots up making a long green candle #W2.

Chikou Span again hesitates at the Price line #W1. 
Senoku Span A & B, veer away from each other as in a deflection #W3.

Wrap: 

Bulls have a tall green week, post break out of the Kumo #W2.

Chikou Span continues being resisted near the Price line - some solace for Bears #W2.

Looking Forward into this Week:

Chikou Span returning from the Price line, is the current Bear hope #W1.

Index is now on a Bullish Breakout, just above the Kumo  #W2.

Cross of the Senoku Span A & B is the next event, that the Bears hope for #W3.

Wrap:

Bears hope the Chikou Span turns back at the Price line #W1, to help the move back into the Kumo #W2.
Bulls aim for a proper deflection of the Senoku Span A & B and life above the Kumo #W2.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Middle Muddle - Week 2 of November 2015.

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

Patterns:

• Bears makes a clean trip from Day Channel's Top to Middle Line (blue), but fail to take out our mark 7919.

Support & Resistance:

• Last week the Bulls found support near the Day Channel's Middle line #D1. Bears used the Pivot line as resistance to send the index down #M1.

Moving Averages: 

• The critical 5 EMA and 13 SMA, remain crossed bullishly, on the Week charts #W1.

Indicators:

• On the Day chart the  MACD and its MA, along with the Histogram, move below zero #M2.

Wrap:

Bulls take support near our second mark 7919 and the Channel Middle #D1. 
Bears almost complete their domination of all 3 screens.

Looking Forward into this Week:

Patterns:

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

Support & Resistance:

• Index has immediate support at 7900, S2 of the Monthly Pivot (7707) #M1, is the fallback. 
• Immediate resistance is at 8040, the 76.4% Fibonacci retrace of the '2011 low' to the 'ATH'  #W1.

Moving Averages: 

• The Death Cross (50 and 200 SMA) is active, these MAs are now Bullishly Converging (needs watching) #D1.
• The critical 5 EMA and 13 SMA, will stay crossed Bullishly, on the Week charts if this week closes above 7900 #W1.

Indicators:

• The TRD, peeping above the 50% retrace is the next Bull wish #M2.

Wrap :

Bulls look to fight back to the Day channel top, if they can stay above the middle line (blue) of the Day Channel #D1.
Bears hunt for life below 7707 #M1, and total domination of all screens.

China - SSEC - Ichimoku Study - Confluence Support - Week 2 of November 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 Confluence of the rising Tenkan Sen and Senoku Span B #W2.
Chikou Span moves above the Kijun Sen #W1.

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

Wrap: 

Despite the bearish Senkou Span cross, Index sees green, above the Tenkan Sen, while in the Kumo #W3.

Bears restrict the action, to inside the Kumo #W2.

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.
Bears seek to keep the index inside the Kumo #W2,.
Bulls see the Chikou Span's action and Tenkan Sen support, as a vote to get above the Kumo #W1 & #W2.

Wrap:

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

Bulls seek life above the Kumo after this consolidation and up-move W2 .

Brent Crude Oil - Ichimoku Study - Hedged- Week 2 of November 2015.

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

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

Index hedged between the lower support line and the upper Tenkan Sen all of last week #W2.
Chikou Span points down with last week's red on the screen #W1.
Gap between the Senkou Span A & B, narrows a bit #W3.
Gap between Tenkan Sen and Kijun Sen, also reduces #W2.


Wrap: 
Index bounces between the same support and resistance last week - advantage Bears #W2. 


Looking Forward into this Week:

Tenkan Sen going up and crossing, to above the Kijun Sen is something the Bulls look forward to #W2.
Chikou Span flitting apart from the Price line for an extended time, works for the 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, when we get there #W3.


Wrap:
Resuming the up-move, and taking out the Tenkan Sen #W2, is the next Bull ask.
Bears look to keep the index below the Tenkan Sen, and seek deeper levels next.