Wednesday, January 17, 2018

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Channel Top Red High Wave - Mid-Week 3 of January 2018. W Chart > Click

Introduction & Primer to Ichimoku can be read at this link > click.


Index touches the Channel Top and returns, shows as a red High Wave Candle at this time - Mid week.
Bulls again maintain Higher Highs and Higher Lows, last Week.
All Ichimoku Signals continue to favor Bulls.


Bulls after making the 300% Fibonacci as marked, should seek to break out of the Channel.
Bears pray for resistance at the Channel Top to get the index below the Tenkan Sen (Blue Line)


Index at the 300% Fibonacci  - Channel break is the Bull plan.
Bears get some Channel Top Resistance, seek life below the blue line.