Monday, November 13, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Bears get a red week - Start of Week 3 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 below the channel top as marked.
Bulls maintain Higher Highs and Higher Lows but end up with a Red Week.
All Ichimoku Signals favor Bulls.

Index trades a red candle, but above Support i.e. the Tenkan Sen (blue line) with another ATH

Looking forward into this Week:

Bulls again seek to reach the 262% Fibonacci.

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

Index above support -  Another New All Time High; is the Bull plan.
Bears pray for more red and life below 2550.