• 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 October 26 was a large red candle, following a doji with small lower shadow and longer upper shadow; broke below lows since the week of May 7, 2018
  • Stochastics (9,1, 3) and RSI (14) continue to decline following their bearish divergences at the last high
  • Stochastics at the lowest since the week of October 31, 2016 and RSI at the lowest since the week on Jan 11, 2016
• Last week’s pivot point=2688.60, R1=2749.03 R2=2839.38; S1=2598.25, S2=2537.82; S1/S2/S3 pivot levels were breached;
• First down week in a row; fourth in last five weeks and fifth in last ten weeks
• Broke above an ascending triangle but retraced back to its upper limit; 100% extension target is near 3070.00 level; retraced back to the lower trend line of triangle
• 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 2639.44 and the 161.8% extension target near 2835.46 are achieved; the 261.8% extension target is near 3013.72
  • 61.8% extension target of longer flag-pole near 2687.41 is achieved; the 100% extension target near 2913.13 is achieved; the 161.8% extension target is near 3138.85
• 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, 2532.69, was the low on February 5, 2018; Last swing high, 2940.91, was during the week of September 17, 2018;
• Below 10-week EMA and 39-week SMA; above 89-week SMA
• Uptrend Under Pressure

Daily

• A large green candle, almost like a bullish engulfing with very small upper and lower shadows
  • %K made a bullish divergence on October 23, 2018 and another on October 29
  • Below a down trend line since the high on October 3
  • Lower highs and lower lows since then
• Below 20-day EMA, 50-day EMA, 100-day SMA and 200-day SMA
• In Correction

• Below a down trend line from high but breaking above some shallower down trendlines; approaching a high and a move above 2707.00 will break the sequence of lower highs and lower lows; broken above EMA 50
• RSI-9 above 70 after making three bullish divergences since October 24 – at 2:00 PM on October 24, at 8:00 AM on October 26, and at 2:00 Pm on October 29;
• Above 20-bar EMA, which is at EMA10 of EMA50
• Bias: Down-Side

• Breaking above a down trendline from the high of 10:00 AM on October 19; approaching the down trendline from the high of 3:00 AM on October 17; making first higher high since October 17
• RSI-9 rising from a low of 25.71 at 3:00 PM on October 29; above 65
• Above 20-bar EMA, which is above 20-bar EMA; both falling
• Bias: Side-Up

• Bollinger Band (20, 2.0) is moving mostly up since 9:15 PM on October 29
• The band narrowed from 9:30 PM to 00:45 AM; expanded a bit but still relatively narrow
• RSI-9 above 50 since 2:30 PM on October 30; mostly moving along 65 since 0:45 AM
• The Stochastic (9, 1, 3): %K crisscrossing %D higher from above 70 since 6:45 AM
• Bias: Up