TO READ THIS WEEK's POST CLICK HERE...

Monday, August 1, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Dodgy Doji - Week 1 of August 2016.













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


Patterns:
Index makes a red Doji last week,
'Three White Soilders' Pattern works for the Bears #WeekChart1.

Support & Resistance:
Weekly Fork's middle Tyne was again Support #WeekChart1. The Middle Tyne of the Fork on the Daily Chart, was resistance again #DayChart1.

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

Indicators:
The STS is in the oversold #
DayChart2.

Wrap:

Bears use the 'Three White Soilders' Pattern, to curtail the action to a red Doji last week #WeekChart1. Bulls keep it above the fork center #WeekChart1



Looking forward into this Week:

Patterns: 

'Three White Soilders' Pattern (Study Links here, here or elsewhere) is active on the Medium Term Chart #WeekChart1.
'Bearish Harami Cross'  (Study Links here, here or elsewhere) is active on the Medium Term Chart #WeekChart1.

Support & Resistance:
Middle Tyne of the Fork on the Day chart is the resistance to beat #
DayChart1. Middle Tyne of the Fork on the Weekly chart is the first support #WeekChart1.
 
Moving Averages:
The 55 & 222 MA, is a in a 'Golden Cross' on the Day Screen
#DayChart1.
 
Indicators:
TSI clears resistance at the 61.8% mark #MonthC
hart2.

Wrap:
Bulls, look at making a new and higher ATH
#WeekChart1. Bears hope for a Three Inside Down, to help drive the index below the MVWAP 34 #DayChart1.






India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Engulfed - Week 1 of August 2016.










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


Patterns: 

Bulls Engulf the previous week #WeekChart1.

Support & Resistance:
Daily 5 EMA was the support, while the Bottom Tyne
of the (old) Day Fork, was resistance as expected #Weekchart1.  

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

Indicators:
The STC is stuck at the 61% Fibonacci retrace #
Monthchart2.

Wrap:
Bulls climb higher and Engulf the previous week
#WeekChart1
Bears stop the Bulls using the resistance at the fork #WeekChart1.



Looking forward into this Week:


Patterns:

'Engulfing' Pattern (Study Links here, here or elsewhere), is active, on the Medium Term Chart #WeekChart1. Bulls look for a 'Three Outside Up' (link)

Support & Resistance:
Middle tyne of the (new) Fork on the Day chart is the resistance to beat #
DayChart 1. The Wall (link) for August i.e. 8666 is the Support the Bulls would want to stay above.
 
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen
#DayChart1.
 
Indicators:
The STS staying in the oversold is power to the Bulls #Week
chart2.

Wrap:
Bulls, look for another 'Three Outside Up' and then a new ATH
#WeekChart 1. Bears seek life below the Wall (8666)