Tuesday, August 8, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Dodgy Doji - Week 2 of August 2017.

Zoom into chart .. 

Introduction / Primer to Ichimoku can be read at this link (click).

Learning from last Week:  (click here for the previous post)

Index again makes a Doji (read indecision) above the 200% Fibonacci retrace of the 
July 2015 High to the February 2016 Low (Last major Hi-Lo). 
Bulls kept it well above the Tenkan Sen (Support) last week.


Bulls again ponder the next move, staying above the 200% Fibonacci, of the last Major Hi-Lo.

Looking forward into this Week:

Bulls now seek to reach the 
213% Fibonacci retrace of the Last major Hi-Lo. 
Bears hope to get below the Tenksn Sen (Blue Line)
Index Support and Resistance possibilities, are marked above. 

Bulls look to make new ATHs, staying above current support at the 200% Fibo retrace.
Bears seek to take the index below the Tenkan Sen using the current indecision.