$SPX Ichimoku bearish-cross March 1,2013
Premarket. $SPX (/ES) is trading at around 1506 level.
On the Ichimoku chart, both the Tenkan sen and Kijun sen have touch each other.
If it close below 1506.63, /ES would have confirmed a bearish cross with a target of 1484.
A few warning signs are coming up for Green Mountain Coffee Roaster ($GMCR).
On the Daily Ichimoku Chart, we can see the following:
1. From the Chikou Span, it suggest that the price pattern is developing a possible head and shoulder. It is incomplete and if it dip below $42.78 , the pattern wil be completed.
2. Looking at the Tenkan sen and Kijun sen, we can see that it is now very close and a bearish cross may form if price dips. Currently, price is still trading above the Tenkan sen and Kijun sen.
3. The leading kumo seems to suggest that the trend is ready to change with a possible ‘kumo twist’. Again, there’s no confirmation.
It seems that the support level of $42.78 from the Chikou Span will be a level to watch.
BlackBerry, $BBRY (formerly $RIMM), Ichimoku’s chart seems to be having a bearish cross soon.
On the Daily Ichimoku Chart, we can see
1. That the price is trading below both the Tenkan sen and Kijun sen; effectively making $15 a resistance level.
2. On top of that, both Tenkan sen and Kijun sen are now very close and may cross soon; giving confirmation to a bearish move.
3. The kumo support below is thin and BlackBerry may just go from the $14 range to $10 very fast.
