Monday, November 6, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Bulls Fly - Start of Week 2 of November 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 nears the Fibo 262% as marked.
Bulls maintain Higher Highs and Higher Lows and close just below the Channel resistance.
Index above all the Ichimoku Signals.

Index gets another green candle above Support i.e. the Tenkan Sen (blue line) with another ATH

Looking forward into this Week:

Bulls now seek to reach 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 all supports -  Another New All Time High; is the Bull plan.
Bears pray for a red Candle headed below 2550, and resistance near the Channel Top.