Kumowizard

SP500 - A bull which is less powerful?

FX:SPX500   S&P 500 index of US listed shares
169 0 2
Weekly:
- Ichimoku setup is trying to turn more bullish , all averages point up again, but weekly candle should close above 2120 to open space for further gains
- Heikin Ashi signal is bullish , but haDelta/SMA3 seems to building some negative divergence!
- Very important to watch Kijun Sen from now! The 26 days average jumped higher, so the first important weekly support is now at 2040. Kumo and 100 WMA support is at 1970+

Daily:
- The Ichimoku setup is rather bullish still, but this bullish wave is not so confident and clear all the previous ones we got used to in last few years.
- Heikin Ashi signal shows the same: there is no really strong momentum in price action. At 2120-25 the Bull faced some resistance again. Heikin Ashi candle is red with a cross down in haDelta/SMA3
- The price itself is still within a possible long term bearish wedge. Problem for Bulls would start below 2080, but the real shock would come only below 2045.

So the big picture is still bullish , but this bull doesn't seem to be very powerful. What if investors are preparing for a a "Sell in May" scenario? In that case I think SP500             would minimum retest the 1970-2000 area again.
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