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Monday, September 1, 2014

S&P 500 - Triple Screen 'Technical Analysis' - Starry Highs - Week 1 of September 2014.



S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 29 Aug'14


S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 29 Aug'14


S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Jan'14, onward - as on 29 Aug'14





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

Patterns:
  • Long Term Bullish Engulfing forms - see the last two Month candles #M1.
  • 'Opening White (Green in our chart) Marubozu' studied last week - works for the Bulls  -  #W1.
  • Evening Star possibility apparent on the Weekly charts #W1.
Support & Resistance:
  • Index rises along EOD channel's top line, even as it breaches 2K #D1.
  • Bullish cross/deflection of the 5 EMA and 13 SMA, stays on the EOW #W1.
Moving Averages:  
    • Bulls close the week above all the MAs we track on all screens.
    Indicators:
    • RSI 13 meanders in the 60s #W2.
    • TSI continues holding, above its crucial Fibonacci level #M2.

    Wrap:
    Bears still control no screens, Bulls get to a landmark new ATH.




    Looking forward into this Week:


    Patterns:

    • Possibility of Evening Star formation (Study Links herehere or elsewhere)  on the EOW exists #W1.
    • Bullish Engulfing on long term charts can evolve into a 3 outside up (Study Links herehere or elsewhere) - to be watched for #M1.
    Support & Resistance: 
    • EOD channel Top #D1 and the ATH are resistances.
    • The 13 SMA on the EOD (1986 for Monday) is the Support Bulls would want to defend #D1.
    Moving Averages:
    • The critical 5 EMA and 13 SMA on the EOW, after a Bullish deflection, continue to help index higher #W1
    Indicators:
    • TSI holding above the Fibonacci level 76.4%, works for the Bulls #M2.


    Wrap:
    Bulls seek to defend the 13 SMA on the EOD #D1.
    Bears look to continue to defend the EOD channel's top line #D1. 



    The Dow Jones - Ichimoku Study - Bulls on Second High - Week 1 of September 2014.



    BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 28 Aug'14




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



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

    Saved by the Kijun Sen. Bulls clear the Tenkan Sen and reach the ATH #W2.

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


    Wrap: Bulls bouncing off the Kijun Sen level up with the ATH #W2.




    Looking Forward into this Week:


    Keeping above the Tenkan Sen - Bulls look for new Highs again #W2.
    Bearish Cross or Bullish Deflection of Tenkan Sen & Kijun Sen, would continue to show direction going forward #W2.
    ATH is stronger resistance on Bull's second visit #W1.


    Wrap: Bulls want life above the ATH following the Chikou Span Deflection, Bears want to defend the ATH line again #W2.



    CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bull Star - Week 1 of September 2014.



    Nifty 50: Long Term View (or) EOM Chart (or) Month Chart - each candle is 1 month's price action


    Nifty 50: Medium Term View (or) EOW Chart (or) Week Chart - each candle is 1 week's price action


    Nifty 50: Short Term View (or) EOD Chart (or) Day Chart - line chart of daily closing Prices



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


    Patterns:
    • Last week's candle gaps up and creates a Evening Star Possibility #W1.
    • Earlier week's 'Above the Stomach' Pattern, gives the Bulls a new ATH #W1.
    Support & Resistance:
    • Bulls keep above the 5 EMA on the EOD all week #D1
    • Bears defend the EOD channel top after Bulls continue to make new ATHs #M1
    Moving Averages: 
    • The critical 5 EMA and 13 SMA on the EOD stay bullishly crossed to give Bulls continued dominance of all screens #D1.
    Indicators:
    • MACD and its MA are Bullishly Crossed #D2. 
    • STS stopped by its resistance line - but remains in the over bought #W1.

    Wrap:
    Bulls dominate all screen and make a new High, Bears defend EOD channel top line #D1.




    Looking Forward into this Week:


    Patterns:
    • This Week's Open is critical for Bears who hope for an 'Evening Star' (Study links herehere or elsewhere) #W1.
    • The earlier week's 'Above the Stomach' Pattern (Study links herehere or elsewherenear the Highs, warrant a careful look #W1.
    Support & Resistance:
    • Support that the Bulls have to defend is the 5 EMA on the EOD (7922 for Monday) #D1.
    • Index  faces resistance at the EOD channel top line #D1. 
    Moving Averages: 
    • Golden Cross (study herehere or elsewhere) of the 50 & 200 SMA is on - however the MA's are converging #D1.
    Indicators:
    • STS slipping below the overbought, will work for the Bears #W1.


    Wrap:
    Bulls look to defend the the 5 EMA on the Day Chart and make new ATHs #D1.
    Bears seek to defend the EOD channel top #D1.



    BSE Sensex - Ichimoku Study - Bulls step up - Week 1 of September 2014.



    BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 28 Aug'14



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



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

    Bulls move up from recent highs to cross the Tenkan Sen #W2.
    Senkou Span A & B - gap even #W3.
    Tenkan Sen and Kijun Sen gap also even #W2


    Wrap: Bulls climb above recent Highs while above the Tenkan Sen 
    #W2.




    Looking Forward into this Week:


    The Chikou Span, keeping current altitude, will need a couple of months to meet the price-line #W1.
    Bears look to defend the ATH #W2.
    Bulls would seek to hold above last week's lows #W2.


    Wrap: Bears look to get t
    he index below the Tenkan Sen and break recent lows , Bull focus is to keep above the Tenkan Sen to break the ATH #W2.