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.
