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Monday, October 19, 2015

US - S&P 500 - Triple Screen 'Technical Analysis' - 'W' Continues. - Week 3 of October 2015.













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


Patterns:
  • 'W' pattern on the EOD chart firms up further #D1.
  • On the Medium Term Screen, Index is seen on a 'Pull back' to the Week Channel's (orange) bottom line #W1.
Support & Resistance:
  • Index took support at the 50 SMA on the Day Chart all week #D1 - it was resisted near the MVWAP35 on the Weekly Charts #W1.
Moving Averages:  
    • The 5 EMA and 13 SMA, on the Month screen are Crossed Bearishly #M1.
    Indicators:
    • RSI 13, after lift off, from the oversold line, almost at the 50% mark #W2.  


    Wrap:
    Bulls hammer their way to above the 2K mark.
    Bears stop the index near the weekly MVWAP35 #W1.




    Looking forward into this Week:

    Patterns:
    • Pullback to Channel Bottom (Study Links herehere or elsewhere) #W1 and 'W' on the Day Chart are active (Study Links herehere or elsewhere) #D1.
    • Both seem to be headed for a confluence, around the same target area on the chart.
    Support & Resistance: 
    • MVWAP35 on the long term screen #M1 (once again) is the support that Bulls want to stay above. Index has resistance at the 200 SMA on the Day chart #D1
    • The 5 EMA and 13 SMA, on the Month screen will cross Bullishly if the index closes above 2161 #M1.
    Moving Averages:
    • Death Cross on the EOD, is active as long as the 50 SMA and the 200 SMA stay crossed Bearishly (Study Links herehere or elsewhere) #D1,
    Indicators:
    • STS is Oversold #W2.


    Wrap:

    Bulls push to reach the target for a big 'W' pattern #D1.
    Bears look to defend 2161 and retain control of the long term screen #M1.


    Europe - CAC 40 - Ichimoku Study - Kumo Pause - Week 3 of October 2015.





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


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


    Index consolidates after the long green candle spanning the Senoku Span A and B  #W2.
    Chikou Span after the massive bounce off support at the Kijun Sen, also makes a pause #W1. 
    Gap between Tenkan Sen and Kijun Sen, widens as they enter the Kumo #W2.


    Wrap: 

    Bulls hold the highs of the previous long green week #W2.
    Bears Defend the Kumo Top #W2.


    Looking Forward into this Week:



    Index making a Kumo Breakout, is the next Bull hope #W2.
    Chikou Span is crossed  below the Price line (Its called a 'Weak Bearish cross because it occurred when the index was Bullish i.e above the Kumo) and it has found support at the Kijun Sen #W1.
    Cross of the Senoku Span A & B is the next event the Bears hope for #W3.


    Wrap:

    Bulls still have momentum inside the Kumo, staying above the Tenkan Sen #W2.
    Bears aim to send the index below the Kumo, with a Bearish Cross of the Senoku Span A & B #W2.


    India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Doji - Week 3 of October 2015.











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

    Patterns:
    • Marubozo on the Week Charts produces a Doji Last week #W1.
    Support & Resistance:
    • Bulls came up from below to pip the previous week's High, but closed below it. #W1, Daily 50 SMA was support #D1.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA, at touch point, to cross Bullishly or deflect Bearishly on the Week charts  #W1.
    Indicators:
    • On the Day chart the  MACD and its MA stay above the zero line, Histogram ticks down #M2.

    Wrap:

    Bulls come back from below to make a higher close and take control of the Day and Week screens #D1, #W1. 
    Bears manage manage a Doji for the Week #W1.





    Looking Forward into this Week:

    Patterns:
    • High Wave Candle on the Month Chart is active (Study Links herehere or elsewhere).
    Support & Resistance:
    • Support continues at  at 8040, the 76.4% Fibonacci retrace of the '2011 low' to the 'ATH'  #W1.Resistance at 8404, the monthly 13 SMA #M1.
    Moving Averages: 
    • The Death Cross (50 and 200 SMA) is active, these MAs are now steady #D1.
    • The critical 5 EMA and 13 SMA, will cross Bullishly on the Week charts if this week closes above 8224 #W1.
    Indicators:
    • The STS, crossing below its MA, is the first sign of cheer for Bears #W2.


    Wrap :
    Bulls seek to drive up to 8404, with the momentum in hand #W1.
    Bears wish for life below 8224 this week, to help them get below support #W1.


    China - SSEC - Ichimoku Study - Big Bounce - Week 3 of October 2015.





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


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


    Chikou Span bounce off the support at the Kijun Sen gets bigger #W1.

    Index stays in the Kumo, just below the Tenkan Sen #W2. 
    Senkou Span A & B, stay crossed Bearishly #W3.


    Wrap: 

    Despite the bearish Senkou Span cross, Index makes another green candle in the Kumo #W3.
    Bulls continue to use the Chikou Span Support at the Kijun Sen #W1 to move up #W2.




    Looking Forward into this Week:


    Bearish Senoku Span Cross is active (its called a Neutral Signal, as it occurs when the Price was inside the Kumo) #W2.

    Kumo gives the Index support to consolidate #W2.
    Bears look to the Tenkan Sen, to bring down the index #W2.



    Wrap:
    Bears look for a resumption of the down trend from the Kumo Top #W1.
    Bulls seek life above the Kumo W2 .