$SPX . Ascending triangle forming, kumo breakout

  From the Ichimoku chart for $SPX, it seems like a Ascending Triangle is forming with possible resitance at 1405. If it trades within a narrowing range, it is likely it will breakout of the kumo towards the end of December where the kumo resistance is weak.

$GLD . Kumo support at around $160

GLD has a sharp fall couple of days back. Kumo support is around $160; the region which it previously breakout from. Noticed how the Tenkan sen and Kijun sen is touching each other? A further drop in GLD will definitely result in a bearish cross. The support levels that I am looking at is around… Continue reading $GLD . Kumo support at around $160