Categories
S&P500

/ES : Kumo resistance – bull-bear tug of war at 1962

Screen Shot 2016-02-26 at 5.10.51 pm

With the recent rally from 1802, /ES has formed a ‘double bottom’ and a ‘W’ formation has confirmed a possible rally.

As it enter the 1962 region, the thick kumo resistance signifies possible heavy resistance and we may see /ES going into a trading range from 1962 to 1932.

 

Categories
S&P500

/ES : Kumo resistance at 1949

/ES kumo resistance

/ES rally may face kumo resistance is expected at 1949.

Immediate resistance at Chikou span at 1939.

Bearish.

Categories
DOW

DOW Jones facing weak Ichimoku support

dow-jones-on-ichimoku-support-bearish

As previously highlighted that the DOW Jones Transport index has indicate a possible bearish trend developing

Yesterday’s DOW Jones closing low and just above a very thin Ichimoku support suggests that the support level may not hold.

On top of that, the leading Ichimoku kumo support is thin as well.

The chances of the index turning bearish is getting higher.