Monday, October 23, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - ATH - Start of Week 4 of October 2017.

Zoom into chart .. Click 

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

Learning from the Earlier Study: (click here for the previous post)

Index stays way above support (i.e. Tenkan Sen - blue line) and Clears the Fibo 227%.
Bulls maintain Higher Highs and Higher Lows and close just below the Channel resistance.
Index makes a 'Closing White Marubozu', up above all the Ichimoku Signals.

Index makes a  'Closing White Marubozu', above Support i.e. the Tenkan Sen (blue line - 2503) with another ATH

Looking forward into this Week:

Bulls now seek to head towards the 262% Fibonacci.

Bears need to get below the Kijun Sen (Red Line) to make a lasting  impact.
Getting a red candle to start with, is the Bear Plan. 

Index above support at 2503 -  Another New All Time High; is the Bull plan.
Bears pray for a red Candle, and resistance near the Channel Top.