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Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Index after a 'Three Outside Up' pattern makes the target $62 in style.
Senkou Span A and B, turn up bullishly (right extreme).
Chikou Span deflects, way above the Price line (left).
Tenkan Sen and Kijun Sen, turn up bullishly (center).
Wrap:
Index continues with the Three Outside Up pattern above support, Target of $62 done !!
Looking Forward into this Week:
All Signals currently favor Bulls.
Defending the 127% Fibonacci (Of this year's Hi and Lo) and turning towards the Kumo is the Bear plan.
Heading to the 162% Fibonacci ($67) with the current momentum would be the Bull way.
Heading to the 162% Fibonacci ($67) with the current momentum would be the Bull way.
Wrap:
Bears hope for a 'Throwback', from resistance at target (127% Fibonacci).
Bulls hope to keep the advantage with the Three Outside Up, for move towards $67.
