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Monday, March 7, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Pin Bar - Week 2 of March 2016.










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


Patterns:.

  • February 2016 candle, resembles a Pin Bar #M1.
Support & Resistance:
  • Index was resisted around the MVWAP 34 on the Weekly Screen as studied #W1. Support again was 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 and Week Screens #D1.
    Indicators:
    • STS is in the over sold zone #D1.


    Wrap:
    Bulls manage a Pin Bar for last month, Bears defend the weekly MVWAP 34 #W1.




    Looking forward into this Week:

    Patterns:
    • Pin Bar Candle's effect (Study Links herehere or elsewhere) is active on the Month Screen #M1.
    Support & Resistance: 
    • MVWAP34 #D1, is the immediate support. The 200 SMA on the Day Charts is  next resistance #D1,
    Moving Averages:
    • Death Cross (50 & 200 SMA), is on the Day Screen.
    • The 5 EMA and 13 SMA, stay crossed bullishly on the week screens as long as the index remains above 1949 #W1.
    Indicators:
    • RSI 13 clearing the 50% mark is important for the Bull up move #W2.


    Wrap:

    Bulls on a roll, 
    after Pin Bar aim for the Day Channel Top 
    #D1.
    Bears aim to keep the index below the MVWAP 34 #W1, and then look to close below 1949 this week.

    India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bingo - Week 2 March 2016.











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

    Patterns:
    • Bulls take off from the precise support we studied last week  6828, the 'Fibonacci 50% retrace of the 2011 low to the ATH'  #W1
    • Bears close the week 10 points off the resistance we studied 7494, the 'Fibonacci 76.4% retrace of the 2008 low to the ATH' #M1. 
    Support & Resistance:
    • Index kept above support at 6828, the 'Fibonacci 50% retrace of the 2011 low to the ATH'  #W1 and was resisted around the weekly 13 SMA #W1,
    Moving Averages: 
    • The critical 5 EMA and 13 SMA, are crossed Bullishly on the Day Screen #D1.
    Indicators:
    • On the week charts the STS #W1, hovers just above the over sold zone.

    Wrap:

    Bulls bounce precisely of  the '50% Fibonacci retrace of the 2011 low to the ATH'  #W1 to make a giant green candle. Bears defend the weekly 13 SMA #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 would like clear the resistance at 8040, the 'Fibonacci 76.4% retrace of the 2010 low to the ATH)' #W1. 
    • The weekly 5 EMA, 7307 is the support that the bears would want to crack #W1.
    Moving Averages: 
    • The Death Cross (50 and 200 SMA) has been active for the past 6+ months #D1.
    Indicators:
    • The TRD staying above the 38.6% Fibo, for the month, helps the Bulls #M2.


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