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Monday, March 10, 2014

S&P 500 - Triple Screen 'Technical Analysis' - Bull's get their Continuum - Week 2 of March 2014.



S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 07 Mar'14


S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 07 Mar'14


S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Oct'2013, onward - as on 07 Mar'14




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


Patterns:

  • Bulls made a weekly 'Opening White Marubozu' near the ATH and got a continuum with a green week (see last two candles on the EOW) #W1. 
Support & Resistance:
  • Bulls keep it above the 5 EMA on all charts and reach the Week Channel Top #W1.
Moving Averages:  
  • On the Day Chart, the 5 EMA and 13 SMA deflect #D1. 
Indicators:
  • RSI 13, continues to meander in the 60s #W2 while the Oscillator on the long term chart peeps into the over-bought zone #M1


Wrap:
Bulls control all Time Frames. Bears defend the Week Channel top #W1 




Looking forward into this Week:


Patterns:
  • The 'Deliberation Candle Pattern' (Study link herehere or elsewhere) needs consideration #M1. 
  • Weekly 'Opening White Marubozu' (Study link herehere or elsewhere) is active #W1. 
Support & Resistance:
  • MVWAP 34 on the Day Chart #D1, is now support for the Bulls, while the Week Channek Top #W1 is resistance.
Moving Averages:
  • Bears need to get the index below the 13 SMA (1828) #W1 to get back into the game - Bulls seek  continuum to a new ATH #M1.
Indicators:
  • Stochastic 34 3 4, staying in the over-bought zone, works for the Bulls #D2.  


Wrap:
Bears hope to defend the Week Channel top - Bulls want the momentum, to continue making new ATHs.




The Dow Jones - Ichimoku Study - Old Highs - Week 2 of March 2014.


Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 07 Mar'14


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



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

Bulls edge up above the Tenkan Sen to near Old Highs  #W2.

Senoku Span A & B gap contracts drastically #W3.
Gap between the Tenkan Sen and Kijun Sen flat and steady #W2.


Wrap: Index nears Old Highs #W2.




Looking Forward into this Week:


Senoku Span A & B - gap contracting is good for the bears #W3.
Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, would show direction going forward $W2.
Bulls benefit if the Chikou span makes new Highs #W1.


Wrap: Bulls want the Tenkan Sen and Kijun Sen staying apart #W2, Bears wish for a Senoku Span Cross #W3.




CNX Nifty 50 - Triple Screen 'Technical Analysis' - ATH Pierced - Week 2 of March 2014.


Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 07 Mar'14


Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 07 Mar'14


Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Aug'2013, onward - as on 07 Mar'14



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


Patterns:
  • January and February Candles formed a  'Piercing Pattern' #M1. Bulls at new high.
Support & Resistance:
  • Index nudging the current EOW channel top (after breaking above the previous top)  #W1 as also the Monthly Pivot's R2 #D1.
  • The Nov'13 High (6343) #W1 becomes the nearest support for Bulls. 
Moving Averages:
  • The medium term 5 EMA is bullishly crossed to above the 13 SMA #W1. 
Indicators:
  • STS breaks above the Support line shown #W2, TRD at the 61.8% retrace drawn #M2.



Wrap:
Bulls keep up momentum to make a new ATH - Bears hold the Index at Weekly channel top resistance #W2.




Looking Forward into this Week:

 

Patterns:
  • Bullish 'Piercing Pattern' (Study link herehere or elsewhere) on the Long Term Chart #M1 is active and has produced a new ATH.  
Support & Resistance:
  • The Nov'13 High (6343) #W1, is the current support. 
  • EOW Channel top is the new resistance for the Bulls #W1. Monthly Pivot's R2 also needs to be negotiated #D1.
Moving Averages: 
  • Golden Cross (study herehere or elsewhere) of the 50 & 200 SMA is on and steady, even as index is clear above these SMAs #D1.
Indicators:
  • Resistance at the 61.8% retrace as drawn on the TRD helps bears #M2.



Wrap:
Bears want life below 6343, Bulls look to keep up the momentum & clear the EOW Channel top #W1.




BSE Sensex - Ichimoku Study - Bulls at New Highs - Week 2 of March 2014.



BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 07 Mar'14



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



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

Bulls beat old highs staying above the Tenkan Sen  #W2.
Senkou Span A & B - gap narrows #W3.
Distance between Tenkan Sen and Kijun Sen contracts drastically #W2
Chikou Span shoots up - after avoiding a bearish cross with Price line #W1.  


Wrap: Index makes New Highs
 above the Tenkan Sen #W2.




Looking Forward into this Week:


Chikou Span needs to float round present height, to avoid a bearish cross with the Price Line in the next few weeks #W1.
Bears need to get below the Tenkan Sen to remain in the game #W2.
Contracting gap between Tenkan Sen & Kijun Sen, makes a bullish deflection or bearish cross imminent #W2.


Wrap: Bears want life below the Tenkan sen. Bulls pray for a deflection of  
Tenkan sen and the Kijun Sen #W2.