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Monday, October 17, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Down Fork - Week 3 of October 2016.








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

Patterns:

After the 'Evening Star' pattern triggers on the long term screen #MonthChart1, Index continues to face resistances at the middle Tyne of the Week and Day forks.#WeekChart1, #Daychart1.

Support & Resistance:
 
Resistance was again at the middle Tyne of the Week Fork #WeekChart1. Support near the bottom Tyne of the Day Fork #Daychart1.

Moving Averages:
The critical EMA 5, is bullishly above the MA 13, only on the Month Chart (landing 1909)
#Monthchart1.

Indicators: 
The RSI is near the center of the range #Week
Chart2.

Wrap:

Bulls hold the Action above the bottom Tyne of the Day Fork #DayChart. Bears move index down and get another red weekly candle  #WeekChart1.




Looking forward into this Week:

Patterns: 

'Evening Star' Pattern (Study Links herehere or elsewhere) is active on the Long term charts #MonthChart1. 

Support & Resistance:
34 MVWAP on the Week chart is supportMiddle Tyne of the Fork on the Week chart is resistance #WeekChart1.

Moving Averages:
5 EMA on the Month chart i,e, 2141, is the resistance, that the  Bulls want to be above, this month #MonthChart1. 


Indicators:
TSI returns from resistance at the 74% Fibonacci mark #MonthC
hart2.


Wrap:
 
Bulls after allowing an Evening Star #MonthChart1, need a save, getting above 2141.
Bears want to keep below the middle Tyne of the Week Fork and aim for life below the MVWAP 34 #WeekChart1.




India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - H&S Neckline - Week 3 of October 2016.













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

Patterns:

Index closes the week on the neckline of a 'Head and Shoulder' Pattern #DaiyChart1 Link(Click)

Support & Resistance:

Day Fork's middle Tyne and 13MA were resistances #DayChart1 
Index closes below the 50 MA and Day Fork's bottom Tyne #DayChart1.

Moving Averages:
The critical EMA 5, bearishly below the MA 13 on all except month screen #MonthChart1
.

Indicators: 
The STC stays, well above the 76% Fibonacci retrace #
MonthChart2.


Wrap: 
Bears close below the Day Fork, Bulls close above the neckline of the H&S pattern #DayChart1.



  

Looking forward into this Week:


Patterns:

Head & Shoulder pattern is active on the Day chart (Study links herehere or elsewhere) Bears need the Index crashing below the neckline #DayChart1.

Support & Resistance: 
Bottom Tyne of the Fork on the Day chart is the first resistance #DayChart1. Neckline of the Head & Shoulder Pattern is the first Support (Link).

Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen 
#DayChart1.

Indicators:
The MACD and its histogram, are below zero #Day
Chart2.


Wrap:
Bears look to break the H&S neckline and get below last week's low 8541 #DayChart1.
Bulls want to break the current down trend, by getting above 8808 #DayChart1.



Brent Crude Oil - Ichimoku Weekly Study - Resisted on High - Week 3 of October 2016.





Introduction / Primer to Ichimoku can be read at this link (click).



Learning from the Earlier Study: (click here for the previous post)

Index clears  June high after popping above the Kumo 
#W2. 
Chikou Span halts at the Price line, Tenkan Sen clears Kumo top  #W1,
Bears give up the June high #W2. 

Wrap: 
Index clears June high, Chikou Span halts at the Kumo #W1. 
  



Looking Forward into this Week:


Bulls now want Higher Highs and Higher Lows #W2.
Bears want the index below the Tenkan Sen #W2.

Chikou Span nudging the price line - bearish cross or bullish deflection, on next #W1.


Wrap:
Bears look to use current resistance to get some red on the screen 
#W2.
Bulls want to keep clear of the Kumo and get the Chikou Span into the Kumo #W2.