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Monday, April 25, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Forked - Week 4 of April 2016.













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


Patterns: 

  • Index lands at the Fork's bottom Tyne again, Bulls under pressure #D1.
  • Index feels the power of the Morning Star #M1, with another green week #W1.
Support & Resistance:
  • Index keeps above the daily 5 EMA all week. Resistance near the last high (2116), helps the Bears stall the up-move #D1.
Moving Averages:  
  • The critical 5 EMA, is below the 13 SMA, only on the Month Screen #M1.
Indicators:
  • STS remains in the over sold zone #D1.


Wrap:
Bears again keep the index below the previous High #W1. Bulls under pressure but continue to hold above the daily 222 SMA.




Looking forward into this Week:

Patterns:
  • Morning Star (Study Links herehere or elsewhere), is active on the Month Chart #M1.
Support & Resistance: 
  • Last High (2116) is the resistance to beat. The Daily 222 SMA, is the support, that Bulls want to stay above. if they slip off the fork #D1.
Moving Averages:
  • Death Cross (55 & 222 SMA), is active on the Day Screen.
Indicators:
  • TSI is above the 50 mark #M2.


Wrap:
Star struck Bulls, aim for a higher high (2116+) and a move to the ATH #W1.
Bears look set to slip below the Fork, this week and ensure a lower high (2116-) #D1.


India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Evening Doji Star - Week 4 of April 2016.











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

Patterns:
  • Last week's Broadening Top, breaks upwards - Weekly candle is a Doji #W1.
Support & Resistance:
  • 13 SMA on the month screen #M1, was resistance while the 200 SMA on the Day screen was support #D1.
Moving Averages: 
  • The critical 5 EMA and 13 SMA, are crossed Bearishly only on the Month Screen #M1.
Indicators:
  • The TRD #M2, is facing resistance at the mid point (50% Fibo).

Wrap:
Pullback to Week Channel bottom almost done, Last week was a stalemate #D1.



Looking Forward into this Week:

Patterns:
  • 'Opening White Marubozu' (Study Links herehere or elsewhere) is active on the Long Term chart #M1.
  • Doji on the Week Chart, near the pull back target, can give relief to the Bears if it becomes an Evening Doji Star (Study Links herehere or elsewhere)  #W1.
Support & Resistance:
  • Immediate resistance is the 13 SMA on the Month Screen #M1. Bulls would want to clear 8040, the 'Fibonacci 76.4% retrace of the 2010 low to the ATH)'  #W1.
  • Next Support is the Daily 200 SMA #D1,  Bears would want life under 7367, the 'Fibonacci 61.8% retrace of the 2010 low to the ATH)'  #W1.
Moving Averages: 
  • The Death Cross (50 and 200 SMA) has been active for the past 6+ months #D1.
Indicators:
  • The MACD crossing to above its MA and histogram ticking above the zero line, is good for Bulls #D2.


Wrap :
Bulls now want to break above the Week Channel's green bottom line #W1.
Bears would want a throw back to the Day Channel top #D1, with some help from the Evening Doji Star #W1.

Brent Crude Oil - Ichimoku Weekly Study - Cross - Week 4 of April 2016.





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



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


Bulls keep the index above the Kijun Sen #W2.
Tenkan Sen crosses above the Kijun Sen, this is a Weak Bullish Signal #W2.
Chikou Span near the Price line #W1


Wrap:
Index keeps to its green run, with a Bullish Tenkan Sen - Kijun Sen, cross #W2.



Looking Forward into this Week:


Chikou Span approaching the price line, great for Bulls  #W1.

Keeping the index above the Kijun Sen, important for Bulls #W2.
After the Bullish Cross of the 'Tenkan Sen and Kijun Sen', Bears hope for a Throwback #W2.


Wrap:

Bulls next wish for a Bullish Cross of the Chikou Span and Price line #W2.
Bears hope for a throw back of the index, to the Kijun Sen #W2,