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Monday, July 11, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Three Outside Up !! - Week 2 of July 2016.








 





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


Patterns:
Index Closes last week, above the previous close and triggers a Medium Term 'Three Outside Up' #W1.

Support & Resistance:
Daily MA13 was the support #D1, index nears the ATH #D1.


Moving Averages:
The critical 5 EMA, is bullishly above the 13 MA, on all the above screens.

Indicators:
STS back in the oversold #D2.


Wrap:
Bulls convert the Bullish Engulfing into a Three Outside up #W1. 

Bears manage to defend the ATH.



Looking forward into this Week:


Patterns:
'Three Outside up' Pattern (Study Links here, here or elsewhere), is active on the Week Chart #W1. 

Support & Resistance:
Mid line of the Fork on the Day chart is the resistance to beat #D1. The Daily 5 EMA is the nearest Support #D1.

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

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


Wrap:
Bulls, look at making a new ATH #W1.
Bears want to keep the action below the Middle tyne of the new fork, and close the week below the current ATH #D1.




India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Three Outside Up? - Week 2 of July 2016.






 
 




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

Patterns: 

Bulls look to have managed a 'Three Outside up' #W1. The Fork on the Day Chart resisted the Index last week #D1. Bulls again close inside the old  Week Channel (new 'Fork' being followed now #W1).
 
Support & Resistance:
Bottom Tyne of the Fork on the Day Chart #D1 was resistance. The Daily 5 EMA was support #D1.

Moving Averages:
The critical 5 EMA, is Bullishly above the 13 SMA, all the above screens.

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

Wrap:
Bulls manage a medium term 'Three Outside Up' #W1. 
Bears again defend entry into the fork #D1.



Looking Forward into this Week:

Patterns:
Bulls manage a 'Three Outside up' (Study Links here, here or elsewhere) on the Medium Term Screen #W1.

Support & Resistance:
Resistance is again at the bottom Tyne of the Fork #D1. Index has support around the monthly Pivot (8171) #M1.

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

Indicators:
The STS staying in the over sold, is power to the Bulls #W2.

Wrap :
Bulls, aim for the ATH with help from the 'Three outside up' on the Week chart #W1.  
Bears want to use the resistance at the Fork and get below 8171 #M1.