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S&P500

$SPX . Closing below the Tenkan sen

For the last 2 days, /ES has been closing just below the Tenkan sen.

Trading range continues to be smaller since the more volatile move from August 23 and August 24.

Should the session remains tight and close below the Tenkan sen, there is a very high chance that /ES may be headed for a retracement.

A break below 1400 may give us a target of around 1389.

By iam802

Trend trading with Ichimoku