Trading Ichimoku

Here’s my reading of the various indices based on Ichimoku Trend DOW Jones (DJIA) S&P 500 (SPX) NASDAQ (COMPQ) Russell 2000 (RUT) Long Term (Kumo) Down Down Down Down Intermediate (Kijun Sen) Down Down Down Down Short Term (Tenkan Sen) Up Up Up Up Notes: 1. If price level is above kumo, it is considered [...]

Look at how the RUT is being supported by the kumo for the last 2 sessions. We should see some resistance at around 702 and 710 If it retrace and continue to be supported at 680, the bullish trend is in tact for RUT.

Compared to the SPX, RUT’s bearish Tenkan sen – Kijun sen cross comes later. RUT is currently trading within the kumo with a support level at around 640. And this will be the first level it will test. Noticed how Thursday’s system drop tested this level and rebound. If RUT, breaks 640, we are targetting [...]