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S&P500

S&P 500: Tenkan sen – Kijun sen cross

2 things to watch on the S&P 500 chart.

With the rally started on March 20, the market is seeing resistance

  1. The Tenkan sen and Kijun sen has cross as of 23 June; a potential reversal of this short-lived rally
  2. A letter ‘h’ is forming suggesting imminent sell-down if the support at 3016 does not hold.
Categories
S&P500

S&P500 – further drop will mean huge resistance ahead at 2750 and above

Categories
S&P500

/ES : Head and Shoulder formation – Watch the kumo support

/ES head and shoulder formation

/ES reached a high of 2007.6 and today saw its first selloff.

Ichimoku kumo support is around 1953. However, there is a need to be wary of the larger head and shoulder formation.

This selloff could see /ES reaching 1800.