• 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 December 29 was a small red candle with larger upper shadow and following a doji for previous week
• Last week’s pivot point 2679.78; R1=2685.95, R2=2698.29; S1=2667.44, S2=2661.21; S1 was breached
• A down week;  first in last five weeks and third 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
• 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 is near 2704.63
• 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 opened at the middle of previous red candle and closed above it highs
• 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 has fallen below 70 and is now trying to regain it
• 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=2691.35; R1=2700.35, R2=2704.88; S1=2686.82; S2=2677.82; R1 was breached
• Confirmed Uptrend

• Futures are moving higher since 4:00 PM on December 29; now at the high of December 18; forming a horizontal channel – high of 2687.50 and the low of 2679.00 – after a break below it; the 61.8% extension target is near 2710.25; using the low of December 29, the target is near 2717.50, which also coincides with the 100% extension target of the horizontal channel
• Mostly sideways move since 12:00 Noon on December 15 in a horizontal channel
• Sequence of higher highs and higher lows since 10:00 AM on November 2 and since August 29 with few exceptions was reasserted on November 21;
• Above 20-bar EMA, which is above 50-bar EMA

• Emerging ascending triangle – break out point is 2698.25; the 61.8% extension target is near 2717.00 and 100% extension target is near 2728.75
• RSI-14 fell below 65 at 5:30 AM after hover above it since 8:30 AM on December 2; did not cross above 80
•  At 20-bar EMA, which is above 50-bar EMA

• Bollinger Band (20, 2.0) has been moving sideways since midnight
• The band contracted at start of Asian session; then expanded very little during European session; bandwidth dipped below 0.15 at 11:00 AM and dipped below 0.10 at 00:30 AM; it is hovering round 0.10 since4:00 AM; at 0.08 at 8:15 AM
• MFI-14 is declining from 2:30 AM high of 93.61 in steps; bounced off 50.00 at 7:00 AM; at 56.29 at 8:15 AM
• The Stochastic (9, 1, 3): %K reached  at 6:45, bounced up and declined to 9.09; now coming off 20

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