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Monday, December 28, 2015

US - S&P 500 - Triple Screen 'Technical Analysis' - Handle Channel - Week 5 of December 2015.











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


Patterns:
.
  • The combination of the Big 'W' and the new Day Channel #D1, make a neat 'Cup and handle' pattern. Price oscillating in the Handle (or Day Channel) #D1 for the past couple of weeks.
Support & Resistance:
  • Index again took off from support at the Channel bottom on the Day Chart #D1 - it  again faced resistance at the daily 34 MVWAP #D1.
Moving Averages:  
    • The 5 EMA and 13 SMA, on the Weekly Screen remains crossed bearishly, with the index below 2088 #W1.
    Indicators:
    • RSI 13, above the 50s  #W2.  


    Wrap:
    Bears again hold the index to a lower high #D1.
    Bulls keep index in the 'Handle' of the 'Cup and Handle' pattern #D1.




    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 for a Bull break through is the is the Day Channel's Top #D1,
    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 in middle ground #D2.


    Wrap:

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

    Bears push for a breakdown at the handle or the Day Channel #D1..


    India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Piercing rewards - Week 5 of December 2015.











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

    Patterns:
    • The previous week, the index showed the Bulls a 'Piercing Pattern', last week saw rewards for the Bulls - a green week #W1.
    Support & Resistance:
    • Index found support around the week channel bottom #W1, with resistance below the daily 50 SMA #D1.
    Moving Averages: 
    • The critical 5 EMA and 13 SMA, stay crossed Bullishly on the Day Chart #D1.
    Indicators:
    • On the week charts the STS #W1, continues to dwell in the over sold zone, despite the recent green on the screen.

    Wrap:

    Bulls take off from support at the Week Channel's bottom and  enjoy the rewards of the Piercing Pattern #W1.
    Bears defend the Daily 50 SMA #D1.





    Looking Forward into this Week:

    Patterns:
    • Piercing Pattern (Study Links herehere or elsewhere) is active on the Medium Term Chart #W1.
    • The Shooting Star, active (Study Links herehere or elsewhere) on the Month Screen #M1, needs attention as we head to the month end.
    Support & Resistance:
    • Index has immediate support at the S2 of the Month Pivot #M1. Resistance is at the daily 50 SMA #D1.
    Moving Averages: 
    Indicators:
    • The STS is in the oversold, a concern for the Bulls #W2.


    Wrap :
    Bears seek to shoot the index below the Week Channel bottom (green) line #W1.
    Bulls aim for life above the daily 50 SMA #D1.


    Brent Crude Oil - Ichimoku Study - Pause - Week 5 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 a pause after the new low with a green week #W2.

    Gap between the Senkou Span A & B, steady #W3.
    Gap between Tenkan Sen and Kijun Sen, steady #W2.

    Wrap: 

    After the Index makes a lower low, Bulls get a pause with a green week.



    Looking Forward into this Week:


    Chikou Span reflects the green week - its a long way from the price line  #W2.

    Gap between the Senkou Span A & B is wide at #W3 & above the last Price point, making a thick Kumo - and a strong resistance to an up-move, when we get there #W3.
    Senoku Span A & B, headed for a cross or deflection with these lines getting closer #W1.


    Wrap:

    Bears look to keep the index below the Tenkan Sen, and make some more lower lows #W2.
    An oversold bounce or a bullish cross of the Senoku Span A & B #W3, is the next Bull hope.