S&P 500 (US) - 'Weekly Technical Analysis' - Back to the 'Cloud' - Week 5 of January 2018.

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

 

PAST

Index after dropping down to the Kumo (cloud), and doing a 7 week skirmish there, dives to the Fibonacci 162% mark and returns to the cloud.

The 'Chikou Span' (left) is below the Price line.

NEXT

Bulls, seek to get above the Kumo. and head for the Fibonacci 300% mark.
The Bear camp needs to use the resistance at the Kumo, to get a red candle after 5 green ones.

WRAP

After a V shaped recovery from the fall off the Cloud (Kumo), Bulls & Bears, need to resolve the direction from this neutral ground.

The Kumo (2645 to 2730) is the current range, take off from which, determines the future of the 'Trump' Rally.