Monday, December 18, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - 362% Fibo and Channels - Start of Week 3 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 shown in a new Channel, clears the old, pops above the 262% Fibonacci as above.
Bulls maintain Higher Highs and Higher Lows, last Week.
All Ichimoku Signals continue to favor Bulls.

Index clears the 262% Fibonacci retrace of the last major High-Low and the Channel Top.

Looking forward into this Week:

Bulls would now seek the 362% Fibonacci.

Bears need resistance to get below the Kijun Sen (Red Line)

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