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Monday, July 7, 2014

S&P 500 - Triple Screen 'Technical Analysis' - Bulls move the Top - Week 2 of July 2014.




S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 03 July'14



S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 03 July'14



S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Jan'14, onward - as on 03 July'14





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

Patterns:
  • Bulls move to a new ATH following previous week's Doji #W1.
  • Last week's candle makes a Closing white (green in our screen) Marubozu #W1.
Support & Resistance:
  • Index keeps above the 13 SMA on the Day charts #D1 and takes off from support at the 5 EMA on the Weekly #W1. 
  • Earlier Weekly Channel Top (or Monthly channel mid-line) resistance was broken and we have a new steeper Weekly channel as drawn #W1.
Moving Averages:  
  • The 5 EMA and 13 SMA, stay deflected on the EOD #D1 - helping the Bulls crack the old Weekly channel top. 
Indicators:
  • RSI 13 stays in the over bought #W2.
  • TSI continues holding above its crucial Fibonacci level #M2.

Wrap:
Bulls retain control of all Screens - Bears fail to defend the Month channel Mid-line  #W1.




Looking forward into this Week:


Patterns:
  • Closing White Marubozu on the Medium Term Screen is now active (Study links herehere or elsewhere).
Support & Resistance:
  • 5 EMA on the EOW #W1 at a Index reading of 1959 is support for the week, while the Day Channel Top #D1 is resistance.
Moving Averages:
  • 5 EMA and 13 SMA currently deflected Bullishly - Bears need to reverse this to get a life #D1.
Indicators:
  • Stochastic 34 3 4, staying back in the over-bought zone, works for the Bulls #D2. 


Wrap:
Bulls seek to go above the last ATH i.e. 1986 - after a round dozen weeks above the weekly 5 EMA, Bears want to crack 1959 on the downside #W1. 




The Dow Jones - Ichimoku Study - Tenkan Sen Bounce - Week 2 of July 2014.



Dow 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 03 July'14



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



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

Bulls take off from support near Tenkan Sen to make a new ATH #W2.

Gap between Tenkan Sen - Kijun Sen steady #W2.
Gap between  Senoku Span A-B steady #W3.


Wrap: Bulls bounce away from near the Tenkan Sen to make a new ATH  #W2.




Looking Forward into this Week:


Keeping above the Tenkan Sen - Bulls look at 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 make new ATHs above the Tenkan Sen, Bears want life below the Tenkan Sen #W2.





CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bulls use support - Week 2 of July 2014.



Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 04 July'14



Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 04 July'14



Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Feb'2014, onward - as on 04 July'14




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


Patterns:
  • Post the Doji the previous week, Bulls take the index to a new ATH last week #W1.
  • Week makes a White (in our chart its Green) Marubozo candle pattern #W1.
Support & Resistance:
  • Month Pivot's R1 was the resistance #D1 last week.  
  • Bulls neatly bounce off support at the Green bottom line of the Day channel #D1 and the 5 EMA on the EOW as studied last week #W1.
Moving Averages:
  • On EOD, the 5 EMA and 13 SMA, cross Bullishly #D1.  
Indicators:
  • STS Pull Back (study) returns at the resistance (earlier support) line, but is still in the overbought zone #W2. 
  • TRD gets shy, near the 76.4 % Fibonacci retrace #M2.


Wrap:
Bulls take all screens with a bounce from support #W1 & #D1, while Bears defend the R1 of the Monthly Pivot #D1.




Looking Forward into this Week:

 

Patterns:
  • Marubozu on the Medium Term Screen is now active (Study links herehere or elsewhere).
Support & Resistance:
  • Support that bears want to reach & crack remains the 5 EMA on the EOW (7545) #W1.
  • The Bulls eye life above R1 on the Monthly Pivot#M1.
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 below the 76.4% retrace is good for the Bears #M2.
  • STS getting above resistance (earlier support) line, helps Bull Cause #W2.


Wrap:
Bears look to again reach and this time break the 5 EMA on the EOW #W1Bulls seek to get to and stay above the Monthly Pivot's R1, #D1.




BSE Sensex - Ichimoku Study - Tenkan Sen Bounce - Week 2 of July 2014.



BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 04 July'14



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



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

Bulls take off from support just above Tenkan Sen to make a new closing ATH (weekly)  #W2.
Senkou Span A & B - gap steady #W3.
Tenkan Sen and Kijun Sen gap also steady #W2


Wrap: Bulls make a new weekly closing ATH - Bears defend intra-week ATH 
#W2.




Looking Forward into this Week:


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 eye the index below the 
Tenkan sen, Bull focus is to stay above the Tenkan Sen and make new ATHs #W2.