Monday, August 28, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Boxed - Week 5 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 boxed between the Tenkan Sen and the Kijun Sen. 
Bulls keep the Higher Low (2406+) in the series of minor Higher Highs and Higher Lows seen.

Index boxed between the red and blue lines.

Looking forward into this Week:

Bulls now seek to close, well above the Tenkan Sen - 2450. 

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

Index ranged between strong support and resistance - Break, could set new direction.