For the past 1 month, the 1110 level on SPX has been tested at least about 8 times.
Nov 16, 17, 18, 23 and 25
Dec 1, 2 and 3.
Looking at the Ichimoku chart, we can see that the leading kumo, highlighted in green, is flattening.
We can also compared the November performance to the previous period of [...]
The SPX close with the level cutting the Tenkan sen.
As we can see, Tenkan sen has have a very steep rise couple of sessions back.
My personal rules is:
- if the rise is sharp, then it is time to take profit once it cuts the Tenkan sen
On another note, we can see that the curve for [...]
Looks like SPX is beginning to start forming the letter M on the charts.
Still too early to tell. And little has changed during the last few trading days.
1. SPX has yet to break through 1100.
2. Double Top seems to have form.
3. Possible support at 1072 based on kumo.
Note:
RUT forms a double top first couple of [...]