Trading Ichimoku

This is a pre-market review of /ES At this moment, /ES is showing a possible gap down from yesterday’s close on the Daily Chart. Support is key at 1042. If it breaks this level, we have a confirmation for a bearish play with a target at around 1011. You can see on the chart Chikou [...]

The daily Ichimoku chart is showing bearish signals for SPX. 1. Tenkan sen cuts Kijun sen; bearish cross 2. Price level is just hanging on kumo support; a move below 1067 will see it goes down. Note: – Let’s see if the bearish trend can take hold this time round. – Remember, we have been [...]

Despite ending the day on a positive note, there is a need to exercise caution. Just take a look at how the /ES close for the last 2 days. Clearly, we can see that the last hour action has been a fairly aggressive move down from the day’s high.