Tag SPX

Entries 68 Total

$SPX . Chikou Span shows possible head and shoulder?

Nov 3, ’11 11:09 PM

Highlighting possible formation.

If it does not break above 1248, and turn down, there is a chance that we see a mini head and shoulder forming.

Kumo support remains at around 1212.

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$SPX . Kumo resistance on Weekly Chart

Oct 28, ’11 8:42 PM

By now, we can see that the price level has break through the kumo. The bullish move is very strong as we can see from the steepness of Tenkan sen.

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$SPX . Watch for kumo breakout. Bullish cross.

Oct 14, ’11 12:06 AM

 

On the Daily Ichimoku chart, SPX is currently trading within the kumo.

This suggest that the direction is not clear. Resistance is at 1220 levels.

However, with the recent rally, we may get a Tenkan sen – Kijun sen bullish confirmation soon.

With the levels so close to the kumo flat top, there is a high chance that SPX will break out of the resistance and continues its bullish run till year end.

Possible catalyst includes the EU package for Greece.

Note:

EU will hold a summit on October 23 to adopt more measures to counter the crisis.

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