$SPX . Right at kumo. Will it breakout?

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$SPX hitting the kumo resistance.

At this moment, the leading kumo has not twist yet, suggesting that the trend has not fully turned bullish yet.

Getting ready to take profit if you are long.


$AMZN : Amazon forming a doji?

It seems like $AMZN is forming a doji.

On the Ichimoku chart, $AMZN is trading above the kumo with a fairly strong Tenkan sen.

It is likely to find support at around $239 and $231.

It needs to break the kumo support at around $225 to $220 for a short.


$SPX . Watch for kumo breakout.

$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, we can see the resistance is at its weakest point if it pierce through this few days. Beyond June, if it fails to breakthrough, the thick kumo will set  in and probably act as resistance.

4. Having said that, the leading kumo seems to be showing possible signs of twisting as well; signs of a change in trend.