$SPX . Watch the bearish cross coming

After breaking out of the kumo, /ES has continue to rise from 1340 to a high of 1468.

It seems like it is finally ready to consolidate and may even go on the bearish side.

From the Ichimoku chart of /ES, it seems to suggest that a head and shoulder seems to be forming.

On top o that the price has retraced and is now trading right between the Tenkan sen and Kijun.

In fact, the chart shows the Tenkan sen pointing down; showing the downward pressure it has.

It is possible that a bearish cross will form if Kijun sen at 1431 does not hold, though support may be found from the kumo at around 1397

By iam802

Trend trading with Ichimoku