Ichimoku shows /ES breaks support

On the Ichimoku chart, /ES has break both support at Tenkan sen and Kijun sen. Not a good time to hold to the long positions.

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$GMCR . Watch the support. $42.78

$GMCR support at $42.78

A few warning signs are coming up for Green Mountain Coffee Roaster ($GMCR).

On the Daily Ichimoku Chart, we can see the following:

1. From the Chikou Span, it suggest that the price pattern is developing a possible head and shoulder. It is incomplete and if it dip below $42.78 , the pattern wil be completed.

2. Looking at the Tenkan sen and Kijun sen, we can see that it is now very close and a bearish cross may form if price dips. Currently, price is still trading above the Tenkan sen and Kijun sen.

3. The leading kumo seems to suggest that the trend is ready to change with a possible ‘kumo twist’. Again, there’s no confirmation.

It seems that the support level of $42.78 from the Chikou Span will be a level to watch.

Consumer Goods

$GMCR . Weak kumo support at 21.86

It seems like the signals are aligned for GMCR.

1. We have the Bearish cross from Tenkan sen and Kijun sen.

2. It has break support from Chikou Span at 23.49

3. Price is trading near the thin kumo support at around $21.86

4. Leading kumo suggest possible kumo twist; thus confirming that this rally may head back to the bearish territories.