• 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 18 was a small red candlestick line with small lower shadow and smaller upper shadow just above the real body of previous week; breaking above a symmetrical triangle
• Last week’s pivot point=2718.99, R1=2736.08, R2=2759.18; S1=2695.89, S2=2678.80; No pivot levels were breached;
• A down week; third in last five weeks and sixth in last ten weeks
• A symmetrical triangle pattern is in the process of completion; price in breaking above it
• 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 piercing candlestick line; very small lower shadow and shaved top; gapped down at the open and then tested the low of Friday, May 18 after filling the Monday’s up gap; the index turned around at 10:30 AM
• Above 20-day EMA; at 50-day EMA and 100-day SMA; above 200-day SMA
• Uptrend resumes

• Turned up at 6:00 AM on May 23 near the lower limit of a horizontal channel; at the middle of the range
• Uptrend since 10:00 AM on May 3 in steps; higher highs and higher lows;
• RSI-9 moved below 20 from above 70 at 9:30 AM on May 22
• Below 20-bar EMA, which is crossing below EMA10 of EMA50
• Bias: Up-Side

• Moving higher since 5:30 AM on May 23; made a high of 2733.00 at 4:00 PM and then declined to 2720.25 by 9:30 PM then again reached the high of 2733.25 t 4:30 AM; potential double top forming
• RSI moved above 65 at 3:30 PM on May 23 from below 20 at 5:30 AM on May 23; above 50
• At/above 20-bar EMA, which is above 50-bar EMA
• Bias: Side

• Bollinger Band (20, 2.0) is moving since 8:15 PM on May 23 after moving up from 9:30 AM earlier in the day
• The band narrowed from 1:00 AM to 3:00 AM and is expanding since then
• RSI mostly between 40 and 65 since 8:00 AM on May 23; fallen below 50 at 7:00 AM
• The Stochastic (9, 1, 3): %K declining from above 80 since 4:45 AM; %K crossed above %D below 20 at 7:30 AM
• Bias: Up-Side

1. Consumer Discretionary
2. Consumer Staples
3. Technology
4. Utility
5. Heath Care
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