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Monday, February 29, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Pin Bar? - Week 1 of March 2016.










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


Patterns:.

  • Index shows a Pin Bar candle for February 2016, with one day to go #M1.
Support & Resistance:
  • Index was resisted around the 13 SMA on the Weekly Screen as studied #W1. Support came near the 5 EMA on the Day Screen #D1.
Moving Averages:  
    • The 5 EMA on the Day Screen is crossed bullishly above the 13 SMA on the Day Screen #D1.
    Indicators:
    • TSI on the Month Screen. descends from the 50% towards the 38.2% Fibonacci retrace #M2.


    Wrap:
    The Month candle resembles a Pin Bar, after double bottom on the day screen #D1.




    Looking forward into this Week:

    Patterns:
    • 'Opening Black Marubozu' (Study Links herehere or elsewhere) is active on the Long Term Chart #M1.
    • Pin Bar Candle (Study Links herehere or elsewhere) is possible on the Month Screen #M1.
    Support & Resistance: 
    • '23.6% Fibonacci retrace from the ATH to the 2011 (orange) low' #M1, is the immediate support. The 34 MVWAP on the Week Charts is  next resistance #W1,
    Moving Averages:
    • Death Cross (50 & 200 SMA), is on the Day Screen.
    Indicators:
    • TSI on the Month Screen. getting back above the 50% important for Bulls #M2.


    Wrap:

    Bulls above support,
     invade the Week channel
     #W1 and look to make a Pin Bar for February.

    Bears look to re-start the down trend, with help from January's'Opening Black Marubozu' #M1.


    India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Pullback? - Week 1 March 2016.










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

    Patterns:
    • The Bulls fail to convert the Bullish Harami on the Weekly Screen #W1, into a 'Three inside up'.
    • Bulls however, keep hopes of a Pullback alive, by keeping above support at the 200 SMA Weekly (Blue) #W1
    Support & Resistance:
    • Index kept above support at the S2 of the Month Pivot  #M1 and was resisted at the weekly 5 EMA #W1,
    Moving Averages: 
    • The critical 5 EMA and 13 SMA, are crossed Bearishly on all screens.
    Indicators:
    • On the week charts the STS #W1, remains in the over sold zone.

    Wrap:

    Bulls keep above the Weekly 200 SMA #W1. Bears defend the weekly 5 EMA #W1.




    Looking Forward into this Week:

    Patterns:
    • 'Opening Black Marubozu' (Study Links herehere or elsewhere) is active on the Long Term chart #M1.
    Support & Resistance:
    • Bulls aim for the resistance at 7494, the 'Fibonacci 76.4% retrace of the 2008 low to the ATH)' #M1. 
    • 6828, the 'Fibonacci 50% retrace of the 2011 low to the ATH)'  is the support that the Bears need to crack #W1.
    Moving Averages: 
    • The Death Cross (50 and 200 SMA) has been active for the past 6+ months #D1.
    Indicators:
    • The TRD closing above the 38.6% Fibo for the month, helps the Bulls #M2.


    Wrap :
    Bulls hope for a Pullback from the Weekly 200 SMA to the Week Channel Bottom #W1.
    Bears aim the day channel bottom #D1, and life below 6828.


    Brent Crude Oil - Ichimoku Study - Tenkan Sen! - Week 1 of March 2016.





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


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

    Bulls score with close above the Tenkan Sen #W2.

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

    Wrap: 

    Index closes above the Tenkan Sen #W2.




    Looking Forward into this Week:


    Chikou Span starts towards the price line  #W2.

    Staying above the Tenkan Sen, the bulls get some life #W3.
    Bears look to get back dominance, with plunge below the Tenkan Sen #W2.


    Wrap:

    Bears look to move below the Tenkan Sen, and get back in the game #W2.
    Breaking the 17 week stay below the Tenkan Sen #W2, Bull Hopes look up.


    Say....