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Monday, August 22, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - High Wave - Week 4 of August 2016.







 




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

Patterns:

'Doji' candle of the previous week gives the Bears the red they wanted - Last week's candle is a 'High Wave#WeekChart1.

Support & Resistance:
 
Day Fork's middle Tyne was once again Support #DayChart1 and the Bulls defend our mark 2169. 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 continues in the oversold #
DayChart2.

Wrap:

Bulls keep above the fork center and make a new ATH, while the Index shows its indecision with a High Wave candle #WeekChart1. 





Looking forward into this Week:

Patterns: 

'High Wavecandle'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 reach #
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 2174 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 prevailing indecision gets them another red week #WeekChart1.




India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Humpty dumpty on the Wall - Week 4 of August 2016.








 





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


Patterns: 

Index vacillates around the Wall (8666) all week, and closes the week one point above it  #WeekChart1.

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

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

Indicators:
The STC nudges above the 76% Fibonacci retrace #
MonthChart2.

Wrap:
Bulls 
and Bears fight for control of 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 first Support, bottom Tyne of the Day Fork #DayChart1 is next.
 
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 ticking upward from below zero - Bulls attempting a comeback #Day
chart2.

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