$SPX : Watch out for the kumo twist

In my previous post, I was hoping for 1218 to hold. The market open below 1218 and I did not manage to get a good confirmation to go long.

The market has continue to be weak since.

Even as the futures is now up on German business confidence, the bearish sentiment remains.

On the Ichimoku chart, we can now see that the leading kumo may be twisting. This is a sign that the trend is changing.

Moving forward into the new year, I will be very careful going long. With the price level now within the kumo and yesterday break below the Kijun sen (trend line), the bearish signals seems to be coming together.

By iam802

Trend trading with Ichimoku