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Monday, November 23, 2015

US - S&P 500 - Triple Screen 'Technical Analysis' - Bull Attack.- Week 4 of November 2015.













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


Patterns:
.
  • After the Bearish Marubozu of the previous week, Bulls make up the lost ground with a long green candle #W1.
Support & Resistance:
  • Index took support just above the 50 SMA on the Day Chart #D1 - it stopped and returned exactly at the week Channel's bottom (orange) #W1.
Moving Averages:  
    • The 5 EMA and 13 SMA, on Monthly Screen alone is crossed Bullishly - and will stay that way until index closes clears 2112 #M1.
    Indicators:
    • RSI 13, spikes above the 50% mark  #W2.  


    Wrap:
    Bears manage to defend the Week Channel bottom (orange) #W1.
    Bulls make a tall green candle and clear the 200 SMA #D1.




    Looking forward into this Week:

    Patterns:
    • The 'W' pattern on the Day Chart is still active (Study Links herehere or elsewhere) #D1.
    Support & Resistance: 
    • 200 SMA on the day chart, is now the Index support, that Bears want to get below. Index Resistance is the Week Channel's Bottom line (orange) #W1,
    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 back to the oversold #W2.


    Wrap:

    Bulls seek the rewards of the big 'W' pattern #D1, with a breakout from the ATH #M1.

    Bears want to use the resistance at the Week Channel bottom (orange) #W1 to take the index back into the Day Channel #D1.


    Europe - CAC 40 - Ichimoku Study - Kijun Sen Support - Week 4 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)

    Chikou Span again points to the Price line, Bulls pop out of the Kumo #W1. 
    Index takes support near the Kijun Sen #W2, to make this up move.
    Senoku Span A & B, steady #W3.

    Wrap: 
    Chikou Span turns back to the Price line - Bulls up #W2.
    Bears defend the Chikou Span again #W2.


    Looking Forward into this Week:


    Chikou Span crossing above the Price line, is the current Bull ask #W1.
    Index is now vacillating in and out of the Kumo, Bulls now have support at the Senoku Span A (4848)  #W2.
    Cross of the Senoku Span A & B is the next event, that the Bears hope for #W3.

    Wrap:

    Bears look to get the index back in the Kumo and below the Kijun Sen #W2.
    Bulls seek stay above the Kumo and get the Chikou Span clearing the Price line #W2.


    India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - An Engulfing Week - Week 4 of November 2015.










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

    Patterns:
    • Bears slip above the Day Channel's Middle Line (blue), after failing to take out our fallback level 7707 once again #D1.
    • High Wave candle on the Medium Term Chart is Engulfed by last week's action #W1.
    Support & Resistance:
    • Last week the Bulls again found support near the Month Pivot's S2 (7707) #M1Bears clear the Channel Middle line but stopped at the Weekly 5 EMA #W1.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA, remain crossed bearishly on all charts.
    Indicators:
    • On the Day chart the  MACD and its MA, stay below zero, Histogram tick up #M2.

    Wrap:

    Bulls take support near our fallback level 7707 and clear the Channel middle line #D1. 
    Bears again - almost dominate - all 3 screens.





    Looking Forward into this Week:

    Patterns:
    • Shooting Star, is active (Study Links herehere or elsewhere) on the Long Term Screen #M1.
    • Engulfing Candle, active on the Medium Term Screen, watch for a 'Three Outside Up' (Study Links herehere or elsewhere#W1.
    Support & Resistance:
    • Index has immediate support at 7707. Resistance is again at 8040, the 76.4% Fibonacci retrace of the '2011 low' to the 'ATH'  #W1.
    Moving Averages: 
    • The Death Cross (50 and 200 SMA) is active, these MAs are now Bullishly Converging (needs watching) #D1.
    • The critical 5 EMA and 13 SMA, crossing back Bullishly, on the Day charts, to be watched for #D1.
    Indicators:
    • The TRD, holding above the 38.6% retrace is the next Bull hope #M2.


    Wrap :
    Holding 7707 for the week, Bulls look to fight back to the Day channel top #D1, with some help from  last week's Engulfing Action #W1.
    Bears hunt for life below 7707 #M1, and clear domination of all screens.