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Monday, June 9, 2014

S&P 500 - Triple Screen 'Technical Analysis' - Channel Top - Week 2 of June 2014.



S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 06 June'14


S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 06 June'14


S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Jan'14, onward - as on 06 June'14



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

Patterns:
  • Bulls get a break out, following last week's Marubozu #W1.
Support & Resistance:
  • Index holds gains - the 5 EMA was AGAIN support both on the Week Charts #W1 and Day charts #D1. 
  • Weekly Channel Top our resistance was approached #W1.
Moving Averages:  
  • The 5 EMA and 13 SMA #D1 deflection produces.more gains for Bulls. 
Indicators:
  • RSI 13, stagnates in the 60s #W2.
  • TSI continues holding above its crucial Fibonacci level #M2.

Wrap:
Bulls dominate all 3 screens - Bears defend the EOW channel top #W1.




Looking forward into this Week:


Patterns:
  • The Medium Term Marubozu (Study link herehere or elsewhereis active  #W1. 
  • Strong Resistance expected at Weekly Channel Top #W1.
Support & Resistance:
  • 5 EMA on the EOW #W1 at a Index reading of 1913 is support for the week, while the Week Channel Top around 1959 #W1 remains resistance.
Moving Averages:
  • 5 EMA on the EOD #D1 - 1935 for Monday - would be the first line, Bears want to get below.
Indicators:
  • Stochastic 34 3 4, staying back in the over-bought zone, works for the Bulls #D2. 


Wrap:
Bulls like a continuation of life above the 5 EMA on the Day charts - Bear future lies in a reversal of the index, around the EOW Channel top to below the 13 SMA on the Weekly charts #W1. 

The Dow Jones - Ichimoku Study - Range Break - Week 2 of June 2015.



Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 06 June'14



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



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

Bulls break out of the range at last and make a new High #W2.

All Ichimoku signal lines move up in unison #W1, #W2, #W3.


Wrap: Index takes off from support at Tenkan Sen to break range - new ATH made #W2.




Looking Forward into this Week:


Keeping above the Tenkan Sen - Bulls have hopes of a new ATHs #W2.
Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, would continue to show direction going forward #W2.
Bulls wary of the Chikou span bearishly crossing the Price line #W1.


Wrap: Bulls look to stay above this range #W2, Bears hope to get below the Tenkan Sen #W2.



CNX Nifty 50 - Triple Screen 'Technical Analysis' - ATH retake - Week 2 of June 2014.



Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 06 June'14


Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 06 June'14


Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Feb'2014, onward - as on 06 June'14




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


Patterns:
  • Bulls get more gains from the 'Medium Term', Three Outside up #W1. 
  • Bears denied a 'Three outside Down' as Bulls gap up above our mark 7236 with precision on Monday last, to take off to a new ATH.
Support & Resistance:
  • 5 EMA on the EOD #D1, was support for the Bulls.  
  • Day Channel Mid-line was resistance #D1.
Moving Averages:
  • On EOD the 5 EMA and 13 SMA, had a Bullish Deflection #D1.  
Indicators:
  • STS crashes below its support line and Pulls Back (study) to the same, but still in the overbought zone #W2. 
  • TRD nears the 76.4 % Fibonacci retrace #M2.


Wrap:
Bulls control all screens and make new ATH #W1.




Looking Forward into this Week:

 

Patterns:
  • Bulls look to the 'Medium Term', Three Outside up (Study links herehere or elsewhere) for some more gains.
Support & Resistance:
  • Support for Bulls is now the 5 EMA on the EOD - keeping current momentum.
  • 7711 - The Day channel middle line (by week end), is the current resistance - which  the Bears want to defend. 
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:
  • TRD Indicator keeping above the 61.8% retrace is good for the Bulls #M2.
  • STS staying below its support line, helps Bears #W2.


Wrap:
Bears look to defend 7711Bulls seek to keep above the 5 EMA on the EOD and maintain current momentum to make new ATHs #W2.






BSE Sensex - Ichimoku Study - Highs Held - Week 2 of June 2014.



BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 06 June'14



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



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

Bulls keep just above Tenkan Sen for the 16th straight week and make a new ATH #W2.
Senkou Span A & B - gap increases #W3.
Tenkan Sen and Kijun Sen gap steady #W2


Wrap: Bulls clear breakout ATH - stay clear of Tenkan Sen 
#W2.




Looking Forward into this Week:


Bear hope is that the Chikou Span, keeping current altitude, will meet the price-line, in a few months #W1.
Bulls want to keep the price line clear of the Tenkan Sen and make new ATHs #W2. 


Wrap: Bears hope is to get the index below the 
Tenkan sen, Bull focus is to hold recent Highs and look at new ATHs #W2.