SPX : Ready to short

The chances of a downward movement is increasing.

On the SPX Daily Chart, I am seeing a Support level of 980 on the Ichimoku Chart.

You can see that in the chart, 980 is the level defined by Chikou Span.

On top of that, we can now see that the Chikou Span is pointing downards and may cut the price level soon.

After 980, I see possible support at around 950 as defined by the leading kumo. That is quite a fair bit of support looking at the thickness of the kumo. And I think, we have to be prepared for any possible rebound from that level.


By iam802

Trend trading with Ichimoku

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