Monday, December 4, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Channel Top? - Start of Week 1 of December 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 nudges the Channel top up.
Bulls maintain Higher Highs and Higher Lows and another green Week.
All Ichimoku Signals continue to favor Bulls.

Index breaks range and reaches the 262% Fibo target at the Channel Top.

Looking forward into this Week:

Bulls would seek to break above the 262% Fibonacci.

Bears need to get below the Kijun Sen (Red Line) to make an impact.
Getting a red candle using the channel top and Fibo resistance, is the Bear Plan. 

Index above support -  362% Fibo, is the Bull plan.
Bears pray for red, and life below the previous range.