Tuesday, October 31, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Dragon Fly - Start of Week 1 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 stays way above support (i.e. Tenkan Sen - blue line) and nears the Fibo 262% as marked.
Bulls maintain Higher Highs and Higher Lows and close just below the Channel resistance.
Index makes a 'Dragon Fly Doji' up above all the Ichimoku Signals.

Wrap: 
Index makes a  'Dragon Fly Doji', above Support i.e. the Tenkan Sen (blue line) with another ATH



Looking forward into this Week:

Bulls now seek to head towards the 262% Fibonacci.

Bears need to get below the Kijun Sen (Red Line) to make a lasting  impact.
Getting a red candle to start with, is the Bear Plan. 


Wrap:
Index above all supports -  Another New All Time High; is the Bull plan.
Bears pray for a red Candle, and resistance near the Channel Top.