Monday, November 20, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Doji on Support - Start of Week 4 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 bounces off support (i.e. Tenkan Sen - blue line) and makes a Doji candle.
Bulls maintain Higher Highs and Higher Lows but end up with an uncertain Week.
All Ichimoku Signals continue to favor Bulls.

Wrap: 
Index trades a Doji candle, but above Support i.e. the Tenkan Sen (blue line), ranging week.



Looking forward into this Week:

Bulls again would seek to reach the 262% Fibonacci.

Bears need to get below the Kijun Sen (Red Line) to make an impact.
Getting a red candle and getting below the Tenkan Sen, is the Bear Plan. 


Wrap:
Index above support -  Another New All Time High; is the Bull plan.
Bears pray for red and life below the critical 2550.