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Monday, March 9, 2015

S&P 500 - Triple Screen 'Technical Analysis' - Weekly 3 Inside Down - Week 2 of March 2015.













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


Patterns:
  • Index slips mid week, below 2104, and closes way below this mark, triggering a 3 Inside down, on the weekly charts #W1.
  • Bulls have History on their side, for a resumption of the Bull run #M1 & #M3.
Support & Resistance:
  • With the ATH made last week, acting as resistance this week, Bulls slide down to find support at the MVWAP 34 on the Day charts #D1, and 13 SMA on the EOW charts #W1.
Moving Averages:  
    • The all important, 5 EMA and 13 SMA, on the short term screen, cross Bearishly early in the week aiding the Bears #D1.
    Indicators:
    • RSI 13 is just about in the 50s #W2.

    Wrap:
    Bears take the Index below the mark - 2104, early in the week, to trigger a Medium Term 3 inside down #W1.
    Bulls find support at critical MAs #D1 & #W1.




    Looking forward into this Week:

    Patterns:
    • Bears have to work the Medium term Three inside down (Study Links herehere or elsewhere#W1, this week, to keep the advantage.
    • Bulls look to History (re-look), for a resumption of the Bull run #M1 & #M3.
    Support & Resistance: 
    • 5 EMA on the Weekly charts (2080) is the resistance that Bulls want to first clear, while the Bears would look to break below the Day Channel Bottom and the 200 SMA #D1.
    Moving Averages:
    • Bulls hope that the 5 EMA and 13 SMA on the Short Term Charts, would cross Bullishly this week #D1.
    Indicators:
    • TSI, taking support on the 60.8% Fibonacci retrace, would hold some cheer for the Bulls #M2.


    Wrap:
    Bears seek to build on the 'Three inside down' #W1, on the medium term charts.
    Bulls trust History #M1 &#M3, and the current supports, to get back to the All time High (ATH). 




    The Dow Jones - Ichimoku Study - Thinning Kumo 1 - Week 2 of March 2015.







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

    Bears take the index down and closer to the Tenkan Sen, following last week's red Doji #W2.
    Tenkan Sen and Kijun Sen, gap steady #W2.
    Senoku Span A & B, gap narrow and steady #W3.


    Wrap: Index makes a new ATH and reaches halfway to the Tenkan Sen #W2.



    Looking Forward into this Week:


    Bears eye the Thinning Kumo #W2 (Study Links herehere or elsewhere) for an opportunity to break into the Kumo.
    Bearish Cross of Tenkan Sen & Kijun Sen, at current range, next on Bear Agenda #W2.
    Chikou Span at current altitude, can meet up with the price line in a couple or months #W1.


    Wrap: Bulls look to stay above the Tenkan Sen and make new ATHs, the Bears want to get back to the Kumo #W2. 



    CNX Nifty 50 - Triple Screen 'Technical Analysis' - Doji Days - Week 2 of March 2015.













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



    Patterns:
    • The Top of the Weekly Channel - which we had been waiting on from April 2014 (post) kept the Bulls down last month, Bulls revisited the channel top and returned again, last week #W1. 
    • Bulls have a long term 'Three Outside Up' in progress (last 4 candles) #M1.
    • Bullish effect of the Three Outside Up #M1 Vs. the Channel Top resistance #W1,  results in a Doji #W1 & #M1.
    Support & Resistance:
    • Medium Term Channel Top #W1 was the resistance last week, the 13 SMA on the same chart #W1 was the precise Support.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA on the EOD, stay Bullishly crossed #D1.
    Indicators:
    • STS stays in the over bought #W2.


    Wrap:
    Bulls make a 3 Outside up and make a new ATH #W1
    Bears defend the Weekly Channel top again #W1.




    Looking Forward into this Week:


    Patterns:
    • Channel Top resistance of the Medium Term Channel, important for Bears #W1.
    • Long Term Charts, see a Three Outside Up (Study Links herehere or elsewhere) #M1.
    • Bullish effect of the Three Outside Up # M1 Vs. the Channel Top's resistance #W1, needs a watch this week, as also the weekly Doji forming a Evening Star (Study Links herehere or elsewhere).
    Support & Resistance:
    • Index resistances that the Bulls would want to get above this week, are the EOW channel top #W1 and the ATH 9119.
    • Support Levels that the Bears want to get below, are 8684 (Wall for March 2015) and 8842 (5 EMA on the Weekly Charts).
    Moving Averages: 
    • Golden Cross (study herehere or elsewhere) of the 50 & 200 SMA is on - these MA's are currently steady #D1.
    Indicators:
    • STS, staying above the overbought line, demonstrates the Bull domination of the Medium and Long Term Screens #W2.


    Wrap :
    Bulls look to use the long term '3 outside up' #M1, to make new ATHs while the Bears depend on the medium term Channel top resistance, with maybe an 'Evening Doji Star', to get below the Wall #W1.




    BSE Sensex - Ichimoku Study - Red ATH - Week 2 of March 2015.






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


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


    Index again uses the Tenkan Sen - Kijun Sen deflection, to get a higher ATH, week ends Red #W2.

    Senkou Span A & B - gap narows some more W3.
    The gap between Tenkan Sen and Kijun Sen, steadies #W2


    Wrap: Index gets new ATH after
     Tenkan Sen and Kijun Sen deflect, last month #W2




    Looking Forward into this Week:


    A Bearish, Chikou Span cross, with Price line, at current altitude, will need a few more months #W1.

    Tenkan Sen and Kijun Sen, deflect bullishly again - study of previous deflections and behaviour of price, after the deflection, is important #W2.


    Wrap: Bulls look to using the deflection to make a new ATH, whereas Bears look at moving the index below the 'Tenkan Sen - Kijun Sen' range 
    #W2.