Monday, December 29, 2014

S&P 500 - Triple Screen 'Technical Analysis' - 3 Inside Up - Week 1 of January 2015.













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

Patterns:
  • Bullish Harami on the Medium Term becomes a 'Three Inside up' #W1.
  • Monthly Candle earlier resembled a Dragon Fly Doji, with last week's up move, its more of a 'Hanging Man' (as of now), bear hope stays alive #M1.
Support & Resistance:
  • Bulls stay above the 5 EMA on the Daily Charts all of last week and make a new ATH, bears hold back the index at the Broadening Top Pattern's upper line #D1.
Moving Averages:  
    • Daily 5 EMA and 13 SMA, stay crossed Bullishly #D1.
    Indicators:
    • STS 34 3 4, bounces at the oversold line and moves into the over bought #D2.

    Wrap:
    Bears hold back the index at the Broadening Top Pattern's upper line #D1.
    Bulls trigger a 3 inside up and make a new ATH #W1.




    Looking forward into this Week:

    Patterns:
    • Broadening Top (Study Links herehere or elsewhere) seen on the Day Chart - follow up re-formed top - bottom is near the 76.4% retrace mark.
    • 'Three Inside Up' is active  (Study Links herehere or elsewhere) #W1.
    • Hanging Man worth a study (Study Links herehere or elsewhere)  #M1.
    Support & Resistance: 
    • Megaphone Top #D1 and EOW Channel Top, are levels the Bulls look to take out.
    • The 5 EMA on the weekly charts (2061) and previous week's close i.e. 2071 are the supports, that the Bears would want to get below #W1.
    Moving Averages:
    • The 5 EMA and 13 SMA on the Medium Term Charts cross bearishly below 1906 #W1.
    Indicators:
    • TSI, above the 76.4% Fibonacci retrace #M2.


    Wrap:
    Bulls make a 'Three Inside up', and now focus on the EOW channel top #W1.
    Bears look to fight back from the Broadening Top Pattern's upper line #D1.


    The Dow Jones - Ichimoku Study - Separation & Kick Off - Week 1 of January 2015.






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



    Learning from the earlier Study: (click here for the post)

    Tenkan Sen and Kijun Sen after Separation the previous week, kick index off to a new ATH #W2.
    Bulls make good use of the support at the Tenkan Sen #W2.
    Senoku Span A & B gap widens #W3.


    Wrap: Bulls kick off from the Tenkan Sen #W2, Bears after making a lower low (October'14), lose the plot, thanks to the Kumo #W2.




    Looking Forward into this Week:


    Bears aim for a journey back to the Kumo, starting with a move to below the Tenkan Sen #W2.
    Bearish Cross of Tenkan Sen & Kijun Sen, on Bear Agenda in early 2015 #W2.
    Chikou Span Cross/Deflection of the Index can show direction going forward #W2.


    Wrap: Bulls look for higher ATHs going forward, while as Bears seek life below the Tenkan Sen in 2015 #W2.



    CNX Nifty 50 - Triple Screen 'Technical Analysis' - High Wave - Week 1 of January 2015.











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




    Patterns:
    • Last two candles on the Month screen, form a 'Bearish Engulfing' as of now #M1.
    • Last Candle on the Medium Term Screen is a 'High Wave' #W1.
    Support & Resistance:
    • Index finds support, bang on the R2 of the Monthly Pivot.
    • Day Channel's blue mid-line, was clear resistance.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA on the EOW, touch for cross or deflection at the start of next week #D1.
    Indicators:
    • MACD and its MA stay crossed bearishly and below the zero line - histogram ticks higher #D2.


    Wrap:
    Bulls and Bears slug it out to a deuce and produce a 'High Wave' - Bears control the Short Term Screen while the Bulls hold on to the Medium Term Screen by a whisker #W1.




    Looking Forward into this Week:


    Patterns:
    • 'Dark Cloud Cover' on the Monthly Charts triggers, if December Closes below 8468 (Study Links herehere or elsewhere) #M1.
    • 'Bearish Engulfing' on the Monthly Charts triggers, if Month Closes below 8348 (Study Links herehere or elsewhere) #M1.
    • 'High Wave' on the Weekly Charts is active ((Study Links herehere or elsewhere) #W1.
    Support & Resistance:
    • Index supports that the Bears want to break below this week, are the Monthly 5 EMA (8110) and Wall for January (8174) #M1.
    • Resistances that the Bulls want to get above, are the numbers noted in 'Patterns' above.
    Moving Averages: 
    • Golden Cross (study herehere or elsewhere) of the 50 & 200 SMA is on - these MA's are currently in converging mode #D1.
    • Bullish Deflection of the 5 EMA and 13 SMA, on the EOW will happen, if index closes the week above 8151 #W1.
    Indicators:
    • STS, moving below the overbought, would pause the 3+ quarter long Bull domination of the Medium and Long Term Screens #W2.


    Wrap :
    Staying above 8151, Bulls hope the 'High Wave' Candle #W1, gives them a Bullish Continuation for now #W1.
    Bears seek to remain below critical levels going into the New Year and get below the October'14 low on the EOD #D1.


    BSE Sensex - Ichimoku Study - Range - Week 1 of January 2015.







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



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

    Bulls again attempt to leave the Tenkan Sen behind, even as the Tenkan Sen and Kijun Sen deflect bullishly, some more #W2.
    Senkou Span A & B - gap widens #W3.
    Tenkan Sen and Kijun Sen continue broad/distant deflection (see earlier deflections in the chart above) #W2


    Wrap: Index Ranges between the Tenkan Sen and the Kijun Sen 
    #W2



    Looking Forward into this Week:


    Senkou Span 'A & B' converging will be bad for the Bulls #W3.
    A Bearish, Chikou Span cross with Price line, at current altitude, will need a few more weeks #W1.
    Bears seek to move the Tenkan Sen below the Kijun Sen and take out the last Index low #W2.


    Wrap: Bulls Seek life above the Tenkan Sen while Bears look at moving the index below the Kijun Send and heading towards the Kumo 
    #W2.




    Monday, December 22, 2014

    S&P 500 - Triple Screen 'Technical Analysis' - Back to ATH ! - Week 4 of December 2014.














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

    Patterns:
    • Index bounces off the MVWAP 34 to touch the ATH again #W1.
    • Bullish Harami on the Medium Term keeps the Bull camp happy #W1.
    • With the Monthly Candle resembling a Dragon Fly doji as of now, bears take heart #M1.
    Support & Resistance:
    • Bulls find support at the 34 MVWAP on the EOW and hit the ATH again, after bears break index below the 13 SMA earlier in the week #W1..
    Moving Averages:  
      • Daily 5 EMA and 13 SMA, cross Bullishly #D1.
      Indicators:
      • STS 34 3 4, takes a bounce at the oversold line #D2.

      Wrap:
      Bears take their fall all the way to the MVWAP 34 on the EOW #W1. 
      Bulls get back 8 Day's loss in 3 days, and hit the ATH again #W1.




      Looking forward into this Week:

      Patterns:
      • Broadening Top (Study Links herehere or elsewhere) seen on the Day Chart - follow up  re-formed top - bottom is near the 76.4% retrace marked.
      • Bullish Harami active, turning into a 'Three Inside up' to be watched for - (Study Links herehere or elsewhere) #W1.
      • Dragon Fly Doji worth a study (Study Links herehere or elsewhere)  #M1.
      Support & Resistance: 
      • Megaphone Top #D1 and current All Time High (ATH), are levels the Bulls look to take out.
      • The 13 SMA on the weekly charts (2008) and last week's close i.e. 2071 are the supports, that the Bears would want to get below #W1.
      Moving Averages:
      • The 5 EMA and 13 SMA on the Medium Term Charts cross bearishly below 1907 #W1.
      Indicators:
      • TSI nudges above the 76.4% Fibonacci retrace #M2.


      Wrap:
      Bulls after a massive slide, get back to the ATH and look to making a 'Three Inside up', staying above 2071 #W1.
      Bears lose their honey and hope to defend the current ATH #D1.



      The Dow Jones - Ichimoku Study - Separation & Support - Week 4 of December 2014.








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



      Learning from the earlier Study: (click here for the post)

      Tenkan Sen and Kijun Sen Separate last week as studied #W2.
      Bulls take support exactly at the separated Tenkan Sen #W2.
      Senoku Span A & B gap widens #W3.


      Wrap: After a long period of running together, the Tenkan Sen and Kijun Sen deflect Bullishly to support the Index, precisely when and where, the Bull wanted it to #W2.




      Looking Forward into this Week:


      Bears aim for a journey back to the Kumo, starting with a move to below the Tenkan Sen #W2.
      Bullish Deflection of Tenkan Sen & Kijun Sen, happens again as studied #W2.
      Bears now strive for a bearish cross of the Tenkan Send and Kijun Sen #W2.


      Wrap: Bulls look for new ATHs supported after the Tenkan Sen and Kijun Sen deflect bullishly - while the Bears want to see a Bearish cross next #W2.


      CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bulls Fight - Week 4 of December 2014.













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




      Patterns:
      • Previous week's 'Dark Cloud Cover' Candle Pattern takes a break after failing to make it to previous 'low' on the EOD, giving the Bulls room to get back above the 13 SMA on the EOW #W1.
      • Last two candles on the EOM screen, form a Bearish Engulfing as of now #M1.
      Support & Resistance:
      • Finding support above the previous low #D1, index moves up, to above the monthly 5 EMA, weekly 13 SMA, and the R1 of the Monthly Pivot.
      • The 5 EMA on the EOW and Day Channel's mid-line, were resistances.
      Moving Averages: 
      • The critical 5 EMA and 13 SMA on the EOD, remains crossed bearishly last week #D1.
      Indicators:
      • MACD and its MA stay crossed bearishly and falls below the zero line #D2.


      Wrap:
      Bulls manage a halt above the previous low, Dark Cloud Cover's effect keeps control of the short term screen with Bears below last week's close #W1.




      Looking Forward into this Week:


      Patterns:
      • Dark Cloud Cover on the Weekly Charts active (Study Links herehere or elsewhere) #W1.
      • Long Term Bearish engulfing in progress, to be watched until month end #M1.
      Support & Resistance:
      • Index supports that the Bears want to break below this week, are the Monthly 5 EMA (8110), Weekly 13 SMA (8225) and the R2 of the Month Pivot #M1.
      • Resistances that the Bulls want to get above, are the 5 EMA on the EOW (8324) #W1 and the Wall for December (8494).
      Moving Averages: 
      • Golden Cross (study herehere or elsewhere) of the 50 & 200 SMA is on - the MA's are converging #D1.
      • Bearish Cross or Bullish Deflection of the 5 EMA and 13 SMA, on the EOW with touch at 7966, to be watched for #W1.
      Indicators:
      • STS, moving below the overbought, would pause the 3+ quarter long Bull domination of the Medium and Long Term Screens #W2.


      Wrap :
      Staying above 8225, Bulls aim to break the blue mid-line of the EOD channel #D1.
      Bears seek to use the Dark Cloud Cover to push and keep, the Index below the 5 EMA on the Long Term screen #M1.


      BSE Sensex - Ichimoku Study - Tryst with Tenkan Sen 2 - Week 4 of December 2014.






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



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

      Bulls attempt to leave the Tenkan Sen behind, even as the Tenkan Sen and Kijun Sen deflect bullishly, some more #W2.
      Senkou Span A & B - gap widens #W3.
      Tenkan Sen and Kijun Sen have a broad/distant deflection (see earlier deflections in the chart above) #W2


      Wrap: Index attempts to get above the Tenkan Sen, after it comes up from below the Kijun Sen 
      #W2



      Looking Forward into this Week:


      Senkou Span 'A & B' diverging, is good for Bulls #W3.
      A Bearish, Chikou Span cross with Price line, at current altitude, will need a few weeks #W1.
      Bulls expect the Tenkan Sen and Kijun Sen deflection to remain at current orientation, even if index again slips below these lines this week  #W2


      Wrap: Tenkan Sen and Kijun Sen deflect broadly -  the Bulls look for a deflection back to the ATH while the Bears hope for a Cross directed at the Kumo 
      #W2.