$AOL . Bearish setup forming

This is a short that is worth looking into.

Unlike the market index like $SPX or /ES, AOL chart has show :

1. The price has not went up further. And it is now below the Tenkan sen

2. The Tenkan sen is turning down (whereas /ES is still exhibiting parabolic movement)

3. The gap between Tenkan sen and Kijun sen is narrowing. This suggest a possibility that a Bearish cross may be forming.

4. Gap support is around $17.17

5. The kumo support is thin towards the first week of March period.

Given the support below and a possible price target of $15 and $12, I will be looking for a SHORT CALL SPREAD.

By iam802

Trend trading with Ichimoku