• 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 May 4 was a small real body candlestick line with very small upper shadow and very long lower shadow
• Last week’s pivot point=2646.99, R1=2699.35, R2=2735.29; S1=2611.05, S2=2558.69; S1/S2 pivot levels were breached;
• A down week; third in last five weeks and sixth in last ten weeks
• A symmetrical triangle pattern is emerging; price in the middle of the pattern
• 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; Last swing high, 2872.87, was during the week of January 22, 2-018; the low since the last swing high is 2532.69 during the week if February 5, 2018
• Below 10-week EMA; at 39-week SMA and above 89-week SMA
• Uptrend under pressure

Daily

• A green candle that gapped up at the open above the upper limit of a symmetrical triangle; no lower shadow and small upper shadow
• Above 20-day EMA; at 50-day EMA and 100-day SMA; above 200-day SMA
• Uptrend resumes

• Moving sideways since 12:00 PM on May 10; uptrend since 10:00 AM on May 3 in steps; higher highs and higher lows; within a resistance zone around 2720.00 level
• RSI-9 declining, in steps, from a high of 86.2 at 2:00 PM on May 10; trying to break below 65
• Above 20-bar EMA, which is above EMA10 of EMA50
• Bias: Up

• Broken above horizontal channel – between 2658.00 and 2681.50 – 161.8% extension target is achieved; 261.8% extension target is near 2743.00
• RSI gradually declining from a high of 84.6 at 12:00 PM on May 10; near 53 after break below 50
• At/above 20-bar EMA, which is above 50-bar EMA
• Bias: Up

• Bollinger Band (20, 2.0) is moving sideways from 3:45 PM on May 10 with an up bias;
• The band was mostly narrow from 4:15 pm to 2:00 AM; it then expanded and is again narrowing since 8:00 AM
• RSI declining from a high of 69.32 at 6:15 AM; at or below 50
• The Stochastic (9, 1, 3): %K crossed below %D at 6:15 AM above 80; below 20
• Bias: Up-Side

1. Consumer Discretionary
2. Consumer Staples
3. Energy
4. Materials
5. Industrials
6. Finance
7. Technology
8. Utility
9. Heath Care
10. Real Estate
11. Telecom