TO READ THIS WEEK's POST CLICK HERE...

Monday, July 6, 2015

S&P 500 - Triple Screen 'Technical Analysis' - Channel Break - Week 2 of July 2015.

















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


Patterns:
  • Index slides below the bottom of the Day Channel #D1, June month's candle is a 'Closing black Marubozu' #M1.
  • Index pulls back to Day Channel's Bottom #D1, leaving last week's candle looking like an 'Opening black Marubozu'.
Support & Resistance:
  • Index closes above the long term 5 EMA #M1, and the Day Channel's Bottom line resisted attempts of the Bulls to close higher #D1.
Moving Averages:  
    • With a close at 2077, the 5 EMA and 13 SMA, in the medium term #W1, cross bearishly.
    Indicators:
    • RSI 13 meanders in the middle of the range for some time now #W2.

    Wrap:
    Bulls close above the long term 5 EMA #M1. 
    Bears break below the Day Channel and complete the pullback #M1.




    Looking forward into this Week:

    Patterns:
    • On the Long Term Screen a 'Closing black Marubozu' (Study Links herehere or elsewhere) #M1, is active. 
    • On the Medium Term Screen an  'Opening black Marubozu' (Study Links herehere or elsewhere) #W1 is active.
    Support & Resistance: 
    • 2131 and the Day Channel Bottom #D1, are the resistances that Bulls want want to get above. 
    • Index have support at the Daily 200 SMA (edited) and the Month Channel Bottom #M1
    Moving Averages:
    • Bulls if they close this Week above 2131, will get the 5 EMA to cross above the 13 SMA on the Weekly Charts  #W1.
    • Bears if they close this Month below 1954, will get the 5 EMA to cross below the 13 SMA on the Monthly Charts  #W1.
    Indicators:
    • STS 34 returns at the oversold mark #D2.


    Wrap:
    Bulls, keeping above the long term 5 EMA, look to get back into the Day Channel #M1
    Bears want a weekly close below 2073, and even hope for a break below the Month Channel leading to a monthly close below 1954 #M1.



    The Dow Jones - Ichimoku Study - Chikou Span action - Week 2 of July 2015.








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


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

    Index runs the range between the Kijun Sen and the Tenkan Sen #W1.
    Gap between the Tenkan Sen and Kijun Sen dips #W2.
    Senoku Span A & B, gap also dips #W3.
    Chikou Span stays below the Price line #W1.

    Wrap: Index takes support at the Kijun Sen. Chikou span within touching distance and below the Price line #W1.



    Looking Forward into this Week:


    Cross of Tenkan Sen, to below the Kijun Sen, is next on Bear wishlist #W2.
    Chikou Span slips below the Price line, however, Bears would have to make a steep dive now to keep it that way (see the candles after the Slip) #W1.


    Wrap: Bulls look to stay above the Kijun Sen and aim for the All Time High, Bears want to work at keeping the Bearish Cross of the Chikou Span and the Price line and hit the Kumo #W2. 



    CNX Nifty 50 - Triple Screen 'Technical Analysis' - Pinned! - Week 2 of July 2015.












     



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

     

    Patterns:
    • Bullish Harami on the long term chart. produces a red Pin Bar in June #M1.
    • The weekly Opening White Marubozu, is followed by last week's tall green candle #W1.
    Support & Resistance:
    • Bears neatly defend our mark 8494 #D1.
    • Bulls close above the mid-line of the Day Channel #D1.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA on the Weekly charts, which were poised for a  Bullish cross or Bearish Deflection at 8494 last week - now see a fresh meeting point 8215 for this week #W1.
    • Death Cross on the Day Charts (50 & 200 SMA) yet to reward the Bears, these MAs are now steady #D1.
    Indicators:
    • On the Medium Term, STS touches the Oversold line and takes support #W2.


    Wrap:
    Bulls bouncing from support at the Bottom of the Day Channel, clear its mid-line #D1.
    Bears defend 8494 precisely #D1.





    Looking Forward into this Week:


    Patterns:
    • 'Death Cross' is active on the Day Charts, as the 50 SMA dives under the 200 SMA (study links herehere or elsewhere) #D1.
    • A Bullish Harami (Study Links herehere or elsewhere) #M1 on the long term chart, followed by a Pin Bar (June candle) which is active #M1 (Study Links herehere or elsewhere) - together they point to a failed 'Three inside up' #M1.
    Support & Resistance:
    • Bulls have support  at the Day Channel's bottom line #D1, and at 8215 #W1.
    • Resistance is at the Month Channel's blue middle line #M1 and R1 of the Month Pivot #M1.
    • Wall (click) for July 2015 is 8398. 
    Moving Averages: 
    • The Death Cross is active as long as the 50 SMA stays below the 200 SMA #D1 - gap between these MAs, is currently static.
    • The critical 5 EMA and 13 SMA on the Weekly charts, are now poised for a  Bullish cross or Bearish Deflection at 8215 for this week #W1.
    Indicators:
    • Bulls hope that the TRD would take off, after settling above the 50% mark last month #M2.


    Wrap :
    Bulls look to stay above the Wall (8398) and the Day Channel's mid-line #D1.
    Bears plan to use the Death Cross's effect, to get the index below 8215, after getting below 8398  the Wall (click) for July 2015 #W1.




    BSE Sensex - Ichimoku Study - Chikou Span re-action - Week 2 of July 2015.







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


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


    Chikou Span clears the Price line but sill its too near the Index #W1.
    Gap between the Senkou Span A & B  narrow and flat #W3.
    Gap between the Tenkan Sen and the Kijun Sen flat #W2.


    Wrap: 

    Index stays above the Kumo #W2, Chikou Span hovers near the Price line #W1. 



    Looking Forward into this Week:


    Bear wish list for the week is to get the Chikou Span back below the Price line and the Price line inside the Kumo #W1&W2.
    Narrowing gap between the Senkou Span A & B, makes a bullish deflection or bearish cross, imminent #W3.
    Bull hope rests on staying above the rather thick Kumo (Study Links herehere or elsewhere) #W2.


    Wrap:

    Bulls wish to stay above the Kumo, keep the Chikou Span above the Price line and manage a deflection of the Senkou Span A & B  #W1. 
    Bears look at the congestion around the Chikou span for an early reversal and for Index to slide back into the Kumo #W2.