• 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 February 23 was a small green candle with almost no upper shadow and small lower shadow following a large green bodied candle with +4.3% advance, which had followed a -5.2% decline previous week
• Last week’s pivot point=2730.94, R1=2764.12, R2=2780.93; S1=2714.13, S2=2680.95; no pivot levels were breached;
• An up week; two in a row, third 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
• Below 10-week EMA; at 39-week SMA and above 89-week SMA
• Uptrend under pressure

Daily

• A large bearish engulfing candle between 61.8% and 78.6% retracement of decline from February high
• Last big pattern, a down-sloping flag in June 2017, was broken to the upside on July 13, 2017; in August the index declined and tested the broken upper limit of the flag; since then the index has made three very small flags; it broke to the upside of the last flag on January 2
• Bounced off 200-day SMA on February 9
• Above 20-day EMA, 50-day EMA, 100-day SMA and 200-day SMA
• Uptrend under pressure

• Moving sideways since 4:00 PM on Tuesday after falling back in the horizontal channel that it had broken to the upside on February 23;
• RSI-9 bouncing off 25 and not approaching 50
• At/below 20-bar EMA and at/above EMA10 of EMA50
• Bias: Up-Side

• Broke below a double top on Tuesday and achieved 261.8% extension target
• Forming an inverse head-&-shoulder pattern since 3:30 OM on Tuesday; approaching the neck line after forming the right shoulder; break above will have 100% extension target near 2770.50
• RSI trending up since 3:30 PM on Tuesday from a low of 25.6; rising above 50 after making a small knee
• At 50-bar EMA which is above 20-bar EMA
• Bias: Down-Side

• Bollinger Band (20, 2.0) is moving sideways with an up bias since midnight
• The band is mostly narrow since 1:30 AM
• RSI is between 40 and 65 since 11:45 PM on Tuesday; bouncing up from above 40 at 7:15 AM and nearing 65
• The Stochastic (9, 1, 3): %K is bouncing from near 0 at 7:15 AM; above 70 after making a small knee at 8:15 AM
• Bias: Down-Side

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