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Tuesday, December 27, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Resumption? - Week 4 of December 2016.





 




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


Patterns:
The Index again stops at the Middle Tyne of the Daily Fork for consolidation #Dailychart.

Support & Resistance:
Support was around the daily 13 MA and Resistance was at the middle Tyne of the Day fork #Dailychart.

Moving Averages:
The critical EMA5, is bullishly above the MA13, on all three charts above.


Indicators:
The RSI near the oversold #WeekChart. 


Wrap:
Index consolidates another week at the Day fork #Dailychart.




Looking forward into this Week:



Patterns:
 

Shooting Star (Google 'Shooting Star candlestick') on the Medium Term Screen indicates possible reversal #WeeklyChart.

Support & Resistance:
Middle Tyne of the Week Fork, is now support and the Top Tyne of the Month Fork is again resistance.
 


Moving Averages:
13 MA on the Day chart, is the mark, that the  Bear want to get below, this week #DailyChart.

Indicators:
STS stays in the over sold #DayChart.



Wrap:
Bears want to use the weekly Shooting Star and the mid fork resistance on the Daily Chart, for a reversal #Dailychart. 
Bulls look to touch the Long term Channel top and a make a new ATH (2292) #MonthChart.




CAC 40 - Ichimoku Weekly Study - Pause - Week 4 of December 2016.








Zoom into chart .. Click


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


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

Kumo Breakout continues to reward Bulls, but in moderation.
All signals are currently Bullish.
Chikou Span flattens (extreme left) 


Wrap:  
Kumo Breakout gives the Bulls more green - pace moderates.





Looking Forward into this Week:


Bears want to get the Chikou Span headed back towards the Kumo (extreme left).
Longs having achieved a higher high (weekly close) now look to keep the momentum going.
Bears look to get back to the resistance levels (Weekly and Monthly).

Wrap:
Bears seek to point the index towards the Tenkan Sen (Weekly resistance).
Bulls look for more green after the massive Kumo Breakout followed by a pause.