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Monday, November 2, 2015

US - S&P 500 - Triple Screen 'Technical Analysis' - High Wave. -Week 1 of November 2015.










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


Patterns:
  • Index attempts to get back into the (orange) Week Channel #W1, High Wave Candle produced last week as a result #W1.
Support & Resistance:
  • Index took support at the 200 SMA on the Day Chart #D1 - it failed to close above the 'Orange' Channel Bottom line #W1.
Moving Averages:  
    • The 5 EMA and 13 SMA, on all the Month Screen is crossed Bearishly - and will stay that way until index closes above 2112 #M1.
    Indicators:
    • RSI 13, after lift off, from the oversold line, back to hanging around the 50% mark  #W2.  


    Wrap:
    Bulls make a High Wave in attempting to cross into the Week Channel #W1.
    Bears force a close just below the Week Channel's Bottom (orange line) #W1.




    Looking forward into this Week:

    Patterns:
    • High Wave candle active on the Medium Term Screen (Study Links herehere or elsewhere) #W1.
    • The 'W' pattern on the Day Chart is active (Study Links herehere or elsewhere) #D1
    Support & Resistance: 
    • 200 SMA on the day chart, is the support that Bulls want to stay above. Index has resistance at the (All Time High) ATH #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 staying in the oversold, keeps pressure on the Bears #W2.


    Wrap:

    Bulls now seek the rewards of the big 'W' pattern #D1, with a breakout to the ATH #M1.
    Bears look to defend last week's close around the Week Channel's bottom, and force the index below the 200 SMA #D1.


    Europe - CAC 40 - Ichimoku Study - Kumo Breakout - Week 1 of November 2015.





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


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


    Index breaks out of the Kumo #W2.
    Chikou Span hesitates at the Price line #W1. 
    Senoku Span A & B, close in for a cross or deflection #W3.


    Wrap: 

    Bulls break out of the Kumo #W2.
    Chikou Span continues being resisted near the Price line - some solace for Bears #W2.


    Looking Forward into this Week:


    Chikou Span returning from the Price line, is the Bear hope #W1.
    Index is now on a Bullish Breakout, to above the Kumo  #W2.
    Cross of the Senoku Span A & B is the next event the Bears hope for #W3.


    Wrap:

    Bears hope the Chikou Span turns back at the Price line #W1, to help the move back into the Kumo #W2.
    Bulls aim for a deflection of the Senoku Span A & B and life above the Kumo #W2.



    India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Channel Top Returns - Week 1 of November 2015.










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

    Patterns:
    • Day Channel Resistance #D1, gives the Bears a Shooting star by end October #M1.
    Support & Resistance:
    • Last week the bulls found support exactly at the 76.4% Fibonacci retrace of the '2011 low' to the 'ATH'  #W1Bears sent the index back neatly, at the Day Channel top as studied #D1.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA, remain crossed bullishly, on the Week charts #W1.
    Indicators:
    • On the Day chart the  MACD and its MA cross bearishly, Histogram ticks below zero #M2.

    Wrap:

    Bulls lose control of the Day screen #D1, but hold the fall at the old support, i.e. 8040 #W1. 
    Bears send back the index at the Day Channel's red top line and take control of the short term screen #D1.





    Looking Forward into this Week:

    Patterns:
    • Shooting Star, is active (Study Links herehere or elsewhere) on the Long Term Screen #M1.
    Support & Resistance:
    • Index has immediate support at 8040 the 76.4% Fibonacci retrace of the '2011 low' to the 'ATH'  #W1. Bulls need to clear the Day Channel's Top line (red) to continue upwards.
    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 stay crossed Bullishly on the Week charts if this week closes above 7919 #W1.
    Indicators:
    • The STS, crossing below its MA, is the next Bear ask #W2.


    Wrap :
    Bulls look to fight back from support and take out the Day Channel top #D1.
    Bears hunt for life below 7919 and complete domination of all screens.