Monday, November 27, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Range Break - Start of Week 5 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 breaks out of the previous 4 week range and makes a new All Time High (ATH).
Bulls maintain Higher Highs and Higher Lows and a green Week.
All Ichimoku Signals continue to favor Bulls.

Index breaks range and makes a new ATH.

Looking forward into this Week:

Bulls again would seek to reach the 262% Fibonacci.

Bears need to get below the Kijun Sen (Red Line) to make an impact.
Getting a 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 red, and life below the previous range.