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Wednesday, December 9, 2015

Europe - CAC 40 - Ichimoku Study - Kumo zone 2 - Week 2 of December 2015.





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


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

Bulls get back into the Kumo, Chikou Span stays below the Price line #W1. 
Tenkan Sen and Kijun Sen, make a bullish (edited) cross #W2..
Senoku Span A & B, separate #W3.

Wrap: 
Bulls lose advantage as index slides inside the Kumo #W2.
Bears allow a Bullish Tenkan Sen - Kijun Sen Cross (edited) #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 see resistance at the Senoku Span A #W2.
Cross of the Senoku Span A & B is the next event, that the Bears hope for #W3.

Wrap:

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



India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Shooting Star effect - Week 2 of December 2015.











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

Patterns:
  • Shooting Star, active on the Long Term Screen #M1 continues to the active in December, as November closes below the October Open (i.e. 7992)
Support & Resistance:
  • Last week the Bulls again found support at the Day channel middle #D1Bears halt the index near the Weekly 13 EMA #W1.
Moving Averages: 
  • The critical 5 EMA and 13 SMA, poised to cross Bearishly on the Day Chart #D1.
Indicators:
  • On the Day chart the  MACD and its MA poised to cross bearishly, staying below zero, Histogram ticks down #M2.

Wrap:

Bulls take support near at the Day Channel middle line #D1. 
Bears defend the weekly 13 SMA for the second week in a row #W1.





Looking Forward into this Week:

Patterns:
  • Shooting Star, is active (Study Links herehere or elsewhere) on the Long Term Screen #M1 for December.
Support & Resistance:
  • Index has immediate support at the bottom of the Weekly Channel #W1. Resistance is at the weekly 50 SMA #W1.
Moving Averages: 
Indicators:
  • The STS hovers above the oversold, a take off to the Over Bought is the Bull ask #W2.


Wrap :
Bears hope for life below the Week Channel bottom (green) line #W1.
Defending the Day channel mid line #D1, Bulls seek the weekly 50 SMA #W1.