• 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 June 1 was a bullish engulfing
• Last week’s pivot point=2716.12, R1=2755.43, R2=2776.24; S1=2695.31, S2=2656.00; S1/S2 pivot levels were breached;
• An up week; third in last five weeks and sixth 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; 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
• Above 10-week EMA; above 39-week SMA and above 89-week SMA
• Uptrend under pressure

Daily

• A small spinning top with almost equal sized upper and lower shadow
• Above 20-day EMA; above 50-day EMA and 100-day SMA; above 200-day SMA
• Uptrend resumes

• Break above a horizontal channel falters; price made three attempts to break above 2779.75 level and is not near 2760; the 100% extension target is near 2782.00 and 161.8% extension target is near 2807.00
• RSI-9 declining since 2:00 AM on June 7; around 40
• Below 20-bar EMA, but above EMA10 of EMA50
• Bias: Up-Side

• Broken below an uptrend line since 3:00 PM on May 29; within a channel between 2779.75 and 2758.00
• RSI-9 declined from a high of 79.98 at 3:00 AM on June 7 after making a bearish divergence; bouncing off a low near 25 at 5:00 AM
• At/below 20-bar EMA, which is below 50-bar EMA
• Bias: Up-Side

• Bollinger Band (20, 2.0) is moving sideways with a down bias since 9:45 PM on June 6; the bias turned down from up at around 11:00 AM on June 7
• The band contracted during early Asian session; expanding since 3:00 AM with price moving along the lower band
• RSI dropped below 20 at 4:15 AM near 65 at 9:30 PM on June 7
• The Stochastic (9, 1, 3): %K is crisscrossing %D since 3:15 from below 10; now above 80
• Bias: Side

1. Consumer Discretionary
2. Consumer Staples
3. Energy
4. Industrials
5. Finance
6. Utility
7. Heath Care
8. Real Estate (unch.)

1. Materials
2. Technology
3. Telecom