• Confirmed Uptrend
• December 2017 closed higher; index has been higher for the nine straight months; it has only one down month, March 2017, since October 2016
• Uptrend resumption since Feb 08, 2016 after a pull back of -15.2%

• The week ending on January 5 was a large green candle with almost no upper and lower shadows; the change was +2.6%, which is the largest change since the week closing on November 11 2016, almost thirteen months ago
• Last week’s pivot point 2722.99; R1=2763.61, R2=2784.08; S1=2702.52, S2=2661.90; R1/R2/R3 were breached; last all 3 resistance levels were breached was the week closing on December 1 and following week ne pivot levels were breached
• An up week;  fourth in last five weeks and seventh in last ten weeks
• Broke above a down sloping flag on April 24 2017;
  • flag-low was 2322.25 during 27-Mar-17 week; shorter flag-pole length is 317.19 and longer flag-pole length is 590.88;
  • 100% extension target of shorter flag-pole near 2639.41 is achieved; and the 161.8% extension target is near 2835.46
  • 61.8% extension target of longer flag-pole near 2687.41 is achieved; the 100% extension target is near 2913.13
• Broke above a down-sloping flag on November 14, 2016;
  • the flag low was 2083.79 during 31-Oct-16 week; the shorter flag-pole length is 202.13 and the longer flag-pole length is 383.71;
  • 261.8% extension target of shorter flag-pole near 2612.97 is achieved
  • the 161.8% extension target of longer flag-pole near 2704.63 is achieved; the 261.8% extension target is near 3088.34
• Last swing low, 2322.25, was the low on March 27, 2017
• Above 10-week EM; above 39-week SMA and 89-week SMA
• Confirmed uptrend

Daily

• A green real bodied candle that gapped up at the open and did not fill the gap; almost no upper and lower shadow
• RSI-14 divergence – on October 20 the RSI was 79.65 and the 2578,29, on November 8 the high was 2595.47 and the RSI was 72.50; on November 30, RSI-14 was 76.67 and the index was at 2657.74; on December 12 the index was 2669.72 and RSI was 74.77; on December 18, the index was at 2694.97 and the RSI was at 75.91 and RSI fell on December 19; RSI is at 78.31
• Last pattern, a down-sloping flag in June that was broken to the upside on July 13, 2017; in August the index declined and tested the broken upper limit of the flag
• Above 20-day EMA but above 50-day EMA; Above 100-day SMA and 200-day SMA
• Pivot Point=2738.17; R1=2748.43, R2=2753.70; S1=2732.90; S2=2722.64; R1/R2/R3 were breached
• Confirmed Uptrend

• Futures are moving higher since 4:00 PM on December 29 in steps; drifting down since 6:00 PM on Sunday
• Broke above a horizontal channel on January 3; the 161.8% Fib extension target near 2729.50 was achieved; the 261.8% extension target near 2747.75 was achieved at 6:00 PM on January 7
• Sequence of higher highs and higher lows since 10:00 AM on November 2 and since August 29 with few exceptions; reasserted on January 3;
• Above 20-bar EMA, which is above 50-bar EMA

• Broke above an ascending triangle on January 4; the 100% Fib extension target near 2728.75 was achieved; the 161.8% Fib extension target ear 2747.50 was achieved
• Broke above a symmetrical triangle / pennant at early Asian session; the 100% extension triangle break target is near 2733.00 and 161.8% extension target is near 2737.75; the Flag/pennant break targets are near 2742.00 and 2755.00
• RSI-14 crossed above 80 in early trading on Tuesday; fell below 65 at 4:30 PM and is hovering around it since then
• At/below 50-bar EMA, which is below 20-bar EMA

• Bollinger Band (20, 2.0) has been moving sideways to down 6:00 PM on January 7
• The band contracted during the Asian session and started to expand at 3:15 ANM with price hugging the lower limit
• MFI-14 dropped below 50 at 3:00 AM and the bounced up to it and fell below 20 by 7:45 AM
• The Stochastic (9, 1, 3): %K dropped below at 7:00 PM on Sunday and hasn’t been able to reach it again; it fell below 20 at 6:45 for third time after two tries to reach 70

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