S&P 500 (SPX) : Support for /ES

Quick chart review based on the Daily Ichimoku chart.

From the chart, I am expecting support to be around 1089 on /ES

The support level is identified by the Chikou Span and it is also near to the support provided by the kumo.

So, despite the pre-market bearish outlook, I believe it will close above 1090.


S&P500 (SPX) : Ichimoku chart, 5min and 1hr shows support

On the Ichimoku 5min chart, we can see that there is support forming and identified by the Chikou Span.

Over at the 1hr chart, there is a kumo support.

Let’s see if these provide enough strength to support the free fall on the news of SEC charging Goldman.


PALM : 52 Week High

Palm hit 52 weeks high.

Rather than posting an Ichimoku chart, it is perhaps better to show some alternative opinions which I got from Huatopedia.

From GR:

The weekly doesn’t look that bullish though – declining buy volume, declining MACD Histogram, declining Chaikin Money Flow, etc. Bollinger Bandwidth is starting to show signs of peaking and turning back down, so maybe prices will start to flatten after this strong move? Reminds me of AMZN – up up and away all the way…

Daily Chart

Weekly Chart