$GMCR continue its downward trend breaking the support at around $19.74. Looking ahead, it face significant headwinds with the thick kumo resistance cause by the massive $20 gap down back in May. Will there be more buying of GMCR this quarter? And what will be its catalyst? I continue to bet on the downward trend.… Continue reading $GMCR . Great kumo resistance ahead
$SPX may be at a cross road soon. On the Ichimoku Daily Chart, we can see that 1. A Tenkan sen – Kijun sen bullish cross has already took place. 2. The Chikou Span is now challenging the resistance from the price level and the Tenkan sen and Kijun 3. However, from the kumo resistance,… Continue reading $SPX . Watch for kumo breakout.
/ES 1340 support level has been breached since pre-market. With this support breached, next target should be 1320 and 1306 If /ES rebound for the day, the resistance to look at includes 1340 and 1351; both of which provides good short entry with stop loss.