Categories
S&P500

$SPX . Doji and bounce off.

Following up on my previous post that an Ascending Triangle is forming.

Yesterday’s price action has give us a confirmation that the price level has bounce off the Tenkan sen which is near the trendline of the triangle.

On top of that, we have a doji formed.

This is a good setup and the next move will be to see if it pierce through the kumo on the Ichimoku chart for a year end rally.

Categories
Tech

$AAPL . Tenkan sen – Kijun sen Bearish Cross

This is a follow up on the previous $AAPL chart dated Apr 16.

As we can see, Friday’s price action gave us a bearish signal on the Ichimoku chart of $AAPL.

Given that the weightage of $AAPL is high in the index, we can assume that there is a bearish bias on /ES as well.

Categories
Tech

$RIMM . Bearish signals are aligned again.

 

Seems like $RIMM bearish signals are aligned again. And a bigger move maybe coming:

1. We have the Tenkan sen cutting Kijun sen bearish signal.

2. Price is trading below the kumo. Bearish.

3. Leading kumo has twisted and suggest trend is bearish.

4. The Chikou Span support of $14.59 has been breached.

Downside to the above, is the lack of huge volume and big price action.

However, should it break, target price is $12.50 and below.