Tuesday, August 22, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Kijun Sen Support - Week 4 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 stays below Tenkan Sen and takes support well above the Kijun Sen
Bulls keep the Higher Low (2406+) in the series of minor Higher Highs and Higher Lows seen.

Bulls take support above the Kijun Sen (red line)

Looking forward into this Week:

Bulls now seek to close above the Tenkan Sen - 2448

Bears hope to get below the Kijun Sen (2406 - Red Line)
Defending the Higher Low is the Bull plan. 

Bulls want a green week and life above the Tenkan Sen.
Bears seek to get the index below 2406, the Kijun Sen and make a lower low.