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Monday, June 15, 2015

S&P 500 - Triple Screen 'Technical Analysis' - High Wave - Week 3 of June 2015.













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


Patterns:
  • The last candle on the Weekly Chart #W1, makes a High Wave #W1.
  • Index bounces off the bottom of the Day Channel #D1 after monthly Spinning tops #M1.
Support & Resistance:
  • Index was resisted near the daily MVWAP 34 #D1, while support was above the monthly 5 EMA  #M1.
Moving Averages:  
    • The all important, 5 EMA and 13 SMA, in the medium term view #W1, touch for a bearish cross or bullish deflection.
    Indicators:
    • RSI 13 is in the 50s #W2.

    Wrap:
    Index vacillates with a High Wave candle #W1. Bulls hold the Channel bottom and the long term 5 EMA #M1. Bears dominate the short term screen #D1.





    Looking forward into this Week:

    Patterns:
    • High Wave's effect is active on the medium term chart (Study Links herehere or elsewhere).
    • Bulls keep the index above the Long term 5 EMA, for the 4th month running. The previous two month candles #M1, are green and resemble spinning tops (Study Links herehere or elsewhere).
    Support & Resistance: 
    • 5 EMA on the Month Chart (2077) #M1 and the MVWAP 34 on the weekly screen (2068) #W1, are the Index Supports that Bears want to get below. 
    • Bulls seek to get back above the strategic 2094 #D1. 
    Moving Averages:
    • Bulls if they close this Week above 2094, will manage a Bullish deflection of the 5 EMA and the 13 SMA on the Weekly Charts  #W1.
    Indicators:
    • TSI, support at the 61.8% Fibonacci retrace, good for the Bulls #M2.


    Wrap:
    Bulls, keeping above the monthly 5 EMA #M1, look to reclaim the short term screen #W1.
    Bears look for a weekly close below 2077 to stay in the red #M1.


    The Dow Jones - Ichimoku Study - Kijun Sen Supports - Week 3 of June 2015.







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


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

    Index bounces off from support at the Kijun Sen but gets sent back at the Tenkan Sen again #W2.
    Gap between the Tenkan Sen and Kijun Sen moves up #W2.
    Senoku Span A & B, gap increases #W3.
    Chikou Span above the Price line #W1.

    Wrap: Index takes support at the Kijun Sen, Chikou span deflects off the Price line #W1.



    Looking Forward into this Week:


    Bears for the next opportunity to dive into the Kumo #W2.
    Cross of Tenkan Sen, to below the Kijun Sen, is next on Bear wishlist #W2.
    Chikou Span makes a Bullish deflection off the Price line, Bulls need to pull up the index to keep the advantage #W1.


    Wrap: Bulls look to stay above the Kijun Sen, Bears look for a Bearish Cross of the Chikou Span and the Price line #W2. 


    CNX Nifty 50 - Triple Screen 'Technical Analysis' - Death Cross - Week 3 of June 2015.













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

     

    Patterns:
    • Bullish Harami on the long term charts produces a long red June candle as of now #M1.
    • Bearish Harami on the Weekly charts become a 'Three inside Down' and gives the Bears some honey #W1.
    Support & Resistance:
    • Index breaks support at the Blue middle line of the EOW channel #W1, and takes support at the red Bottom line of the Day Channel #D1.
    • Blue middle line of the EOW channel #W1, resists the Index last week.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA on the Monthly charts, gets closer to a Bullish deflection or a Bearish cross off 7878 #W1.
    • The 200 SMA and 50 SMA on the EOD Charts touch for a Bearish Cross #D1.
    Indicators:
    • MACD and its MA stay below the zero line as does its Histogram #D2.


    Wrap:
    Bulls resisted at the Mid-line of the Week Channel takes support at the Bottom of the Day Channel #D1.
    Bears look good for a Death Cross #D1..





    Looking Forward into this Week:


    Patterns:
    • A Bullish Harami (Study Links herehere or elsewhere) #M1 is active on the long term chart. 'Three inside Down'  (Study Links herehere or elsewhere) #W1 is active on the medium term chart. 
    Support & Resistance:
    • Bulls face resistance at the 76.4% Fibonacci retrace (8040) 'of the 2011 low to the ATH' #W1.
    • Current support is at the Day Channel's bottom line #D1.
    • Wall for June 2015 is 8321. 
    Moving Averages: 
    • Death Cross (study herehere or elsewhere) is active, as long as the 50 SMA stays below the 200 SMA #D1.
    Indicators:
    • Bulls hope that the TRD would climb back above the 50% mark this month #M2.


    Wrap :
    Bulls look to get above the June Wall (8321) after getting above 8040 #D1 .
    Bears plan to trigger the Death Cross and hope to close below 7878 #W1. 


    BSE Sensex - Ichimoku Study - Life in the Kumo - Week 3 of June 2015.







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


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


    Bears settle into the Kumo 
    #W2.
    Gap between the Senkou Span A & B  narrows further #W3.
    Gap between the Tenkan Sen and the Kijun Sen is steady #W2.
    With the Price inside the Kumo any Ichimoku signal seen is deemed 'Neutral' - marked blue.


    Wrap: 

    Bears holding on to a Bearish Tenkan Sen-Kijun Sen Cross & Chikou Span Cross, get a life in the Kumo #W1 &W2.
    Bulls are left with their last hope a 'Senkou Span A & B' bullish deflection  #W1.



    Looking Forward into this Week:


    Chikou Span can recross the Price line Bullishly, if the index bounces out of the Kumo #W1.

    Narrowing gap between the Senkou Span A & B, makes a bullish deflection or bearish cross, imminent #W3.
    Bull hope rests on getting back above the rather thick Kumo (Study Links herehere or elsewhere) #W2.



    Wrap:

    Bulls hope to get out of the Kumo, point the Chikou Span above the Price line and manage a deflection of the Senkou Span A & B  #W1. 
    Bears look to stay in the Kumo, retaining the Bearish Crosses #W2.