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Monday, June 13, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Doji Star - Week 3 of June 2016.















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


Patterns:
Evening Doji Star formation apparent on the Weekly Chart #W1. Bulls make a Higher High #M1.

Support & Resistance:
Middle Tyne of the fork on the day screen #D1, was support and later resistance last week.


Moving Averages:
The critical 5 EMA, is bearishly below the 13 SMA, on the day screen #D1.

Indicators:
STS is in the Over bought zone #D2.


Wrap:
Bulls make a Higher High #M1. Bears manage Evening Doji Star #W1.




Looking forward into this Week:


Patterns:
Possible 'Evening Doji Star' (Study Links here, here or elsewhere), on the Week Chart #W1.

Support & Resistance:
Weekly Channel Top (orange) is the resistance to beat #W1. The lower tyne of the fork is the support #D1.

Moving Averages:
The 55 & 222 SMA, is a in a 'Golden Cross' on the Day Screen #D1.

Indicators:
TSI just above the resistance at the 61.8% mark #M2.


Wrap:
Bulls, after making a higher high (above 2116) #M1, look to reach the ATH.
Bears seek to get the Index below the fork #D1, and seek a lower low to make up.




India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Peek a Boo - Week 3 of June 2016.








 




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

Patterns:
Nifty noses in and out of the bottom of the Weekly Channel i.e.  the green bottom line #W1. Bears get a red week #W1.

Support & Resistance:
Middle line of the Day Channel #D1 was Support and then resistance. The daily 13 SMA was support by week end #D1.

Moving Averages:
The critical 5 EMA, remains bearishly below the 13 SMA, only on the Long term screen #M1.

Indicators:
The TRD #M2, is above the mid point (50% Fibonacci).


Wrap:
Index drops off from support at the Day Channels middle, its playing 'peek a boo' with the Weekly Channel bottom #W1.




Looking Forward into this Week:

Patterns:  

Index after the Pullback to the Weekly Channel bottom, on the Medium Term Screen (Study Links here, here or elsewhere), has broken in and out of the channel, battle for control of this space continues #W1.

Support & Resistance:
Resistance is at R1 (8358) of the June Pivot #M1. The 'Fibonacci 76.4% retrace of the 2010 low to the ATH' is support (8040) #W1.

Moving Averages:
A Golden Cross (50 and 200 SMA) is active on the day chart #D1.

Indicators:
The STS reaching the over sold is power to the Bulls #W2.


Wrap :
Bulls, seek to clear 8358 and target a new ATH.  Bears seek life below the Week Channel  #W1.