Trading Ichimoku

$CRM . Salesforce breaking down.

Jan 5, ’12 11:43 PM

If cloud computing is a leading sector in the tech, then the chart for Salesforce.com is a sign that the tech industry is breaking down.

And by extension, entreprise spending is tightening in 2012.

From the Ichimoku Daily Chart, we can see that CRM as far as back as November in 2011 when it pierce through the kumo.

After which the counter rally, fail to go above the kumo.

From December till now, we can see 2 gap down on the chart; adding more strength to the bearish reading.

We can also see how the chart is showing a possible letter ‘h’ formation.

From the Weekly Chart, we can see that the next possible support is around $86

Vested.

Comments Off

Jan 3, ’12 8:58 PM

The futures gap up before the PMI figures is released.

Despite the gap up, SPX face immediate resistance from the Chikou Span at 1273.71 and 1284.3

Switching to the Ichimoku Weekly Chart, we can see that SPX is trading inside the kumo on the Weekly and has not cleared the kumo.

This suggest that the long term bullish trend has not been established yet.

The leading kumo on the Daily Chart is also very thin. A hint that support will be weak as it goes further towards end January.

Comments Off

Dec 26, ’11 2:39 PM

Since the gap down from July, STI has hardly recover.

Price range has ‘consolidated’ between range 2528 to 2900

Currently, from the Ichimoku chart, STI is trading below the kumo.

All signs point to a lower STI going into 2012.

1. Trading below kumo with resistance at 2714

2. Both Tenkan sen and Kijun sen pointing down

3. Leading kumo has twisted and the counter trend rally has failed.

Future trend suggest that it is heading downwards.

Comments Off