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… Continue reading $SPX . Doji and bounce off.
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.
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… Continue reading $RIMM . Bearish signals are aligned again.