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Monday, August 15, 2016

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






 





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


Patterns:
'Hanging Man' candle of the previous week fails to work for the Bears - Doji shows an 'even steven' last week #WeekChart1.

Support & Resistance:
Day Fork's middle Tyne was again Support #DayChart1. The Index made another new All Time High (ATH) #MonthChart1.

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:

Bulls keep above the fork center and make a new ATH, while the Bears manage a 'Doji' candle last week #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.
'Doji' candle's effect  (Study Links here, here or elsewhere) is active on the Medium Term Chart #WeekChart1.

Support & Resistance:
Upper 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 5 EMA on the Week screen falls at 2169 a level the bulls need to defend
#WeekChart1.
 
Indicators:
TSI nears resistance at the 74% Fibonacci mark #MonthC
hart2.

Wrap:
Bulls, look at making another new and higher ATH
#WeekChart1. Bears hope the 'Doji' candle gets them some red #WeekChart1.


India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - 3 Outside Up Gains - Week 3 of August 2016.













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


Patterns: 

Bulls make a higher high, with help from the '3 Outside up' #WeekChart1, and close above our weekly support. 8666.

Support & Resistance:
Index had support near the bottom Tyne of the Day Fork
#DayChart1. August Wall (link) i.e. 8666 was the Resistance by weekend, and Index closed above it. 

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

Indicators:
The STC legs up to the 76% Fibonacci retrace #
MonthChart2.

Wrap:
Bulls make a higher high with help from the 
'3 Outside up' #WeekChart1
Bears put up a stiff fight at the wall (8666).



Looking forward into this Week:


Patterns:

'3 Outside up' Pattern (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. The Wall (link) for August i.e. 8666 is the Support, that 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 MACD is below its MA and the histogram is below zero - good for bears #Day
chart2.

Wrap:
Bulls, look to the 'Three Outside Up' to make a new ATH
#WeekChart1. Bears fight for life below the Wall (8666).