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Monday, December 14, 2015

US - S&P 500 - Triple Screen 'Technical Analysis' - Cup and Handle? - Week 3 of December 2015.











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


Patterns:
.
  • Index after a couple of Dojis, crashes to support #W1.
  • The combination of the Big 'W' and the new Day Channel #D1, make a neat 'Cup and handle' pattern.
Support & Resistance:
  • Index again took support at the Channel bottom of the Day Chart #D1 - it failed to make upward progress from previous week's Doji's close #D1.
Moving Averages:  
    • The 5 EMA and 13 SMA, on the Weekly Screen poised to cross bearishly or deflect Bullishly #W1.
    Indicators:
    • RSI 13, hesitates and falls at the oversold mark  #W2.  


    Wrap:
    Bears keep the index below the Week Channel bottom (orange) once again #W1.
    Desperate Bulls produce the 'Handle' of the 'Cup and Handle' pattern with the Day Channel action #W1.




    Looking forward into this Week:

    Patterns:
    • The 'W' pattern on the Day Chart is still in play (Study Links herehere or elsewhere) #D1.
    • A 'Cup and Handle' pattern is active on the charts #D1, #W1 & #M1 (Study Links herehere or elsewhere) so long as a Handle is viable on any relevant time frame.
    Support & Resistance: 
    • Day Channel bottom (pink) #D1 is support.  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 touches the over bought line #D2.


    Wrap:

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

    Stoic Bears use the resistance at the Week Channel bottom (orange) #W1 to send the index down #D1 potentially forming a 'Cup and Handle Pattern'.


    Europe - CAC 40 - Ichimoku Study - Kumo Support - Week 3 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)

    Senoku Span B provides precise support last week, after Bulls saw resistance at the Senoku Span A as studied #W1. 
    Neutral Bullish cross of the Tenkan Sen to above the Kijun Sen yet to help Bulls W2..
    Senoku Span A & B, steady #W3.

    Wrap: 
    Bulls halt the slide at the Kumo bottom #W2.


    Looking Forward into this Week:


    Chikou Span turning up and crossing above the Price line, is the current Bull wish #W1.
    Index is now vacillating inside the Kumo, Bulls now see resistance at the Senoku Span A #W2.
    Bullish cross of the Tenkan Sen to above the Kijun Sen, is 'Neutral' as it occurred when the price was inside the Kumo #W2.

    Wrap:

    Bears look to crash the index below the Kumo #W2.
    Bulls seek get above the Kumo from current support #W2.


    India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Channel Wars - Week 3 of December 2015.









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

    Patterns:
    • Shooting Star, was active on the Long Term Screen #M1.
    • Medium Term Channel bottom reached, bulls and bears war over this support #W1.
    Support & Resistance:
    • Last week the Bulls support at the Week channel's bottom #W1Bears halt the index near the Weekly 5 EMA #W1.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA, cross Bearishly on the Day Chart #D1.
    Indicators:
    • On the Day chart the  MACD and its MA cross bearishly, staying below zero, Histogram ticks down #M2. This low of the Indicator is a divergence to the low of the Price #D1, #D2.

    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 S2 of the Month Pivot #M1. Resistance is at the weekly 50 SMA #W1.
    Moving Averages: 
    Indicators:
    • The STS hovers above the oversold, with a positive divergence to price, a take off to the Over Bought is the Bull ask #W2.


    Wrap :
    Bears want to press for a weekly close, below the Week Channel bottom (green) line #W1.
    Defending the monthly pivot's S2 #M1, Bulls seek the weekly 50 SMA #W1.


    China - SSEC - Ichimoku Study - Tenkan Sen Holds - Week 3 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)


    Index takes support at the Tenkan Sen, with a slip to below the Kumo #W2.

    Chikou Span stays below the Kijun Sen #W1.
    Senkou Span A & B, stay crossed Bearishly and rise #W3.

    Wrap: 

    Index steadies with support around the Tenkan Sen #W2.
    Bear see resumption of the down trend, after the Senoku Span Cross #W3.




    Looking Forward into this Week:


    Bearish Senoku Span Cross is active (
    Its called a 'Neutral' Bearish cross, because it occurred when the index was on Neutral territory i.e inside the Kumo) #W2.

    Bulls seek to get the index inside the Kumo #W2,.
    Bulls continue to need the Tenkan Sen support #W2.


    Wrap:
    Bears push for a continuation of the down trend, after the Senoku Span Cross #W3.
    Bulls seek life in the Kumo and a steady up-move W2 .