Tuesday, August 15, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Support 2448 - Week 3 of August 2017.

Zoom into chart .. 

Introduction / Primer to Ichimoku can be read at this link (click).

Learning from last Week:  (click here for the previous post)

Index dives below support at Tenkan Sen (2448)
Bulls keep the Higher Low in the series of minor Higher Highs and Higher Lows seen.

Bulls take a dive below the 213% Fibonacci, of the last Major Hi-Lo.

Looking forward into this Week:

Bulls now seek to close above the Tenkan Sen - 2448

Bears hope to get below the Kijun Sen (Red Line)
Defending the Higher Low is the Bull plan. 

Bulls need life above 2448.
Bears seek to keep the index below the Tenkan Sen and  then make a lower low.