SP500 - Like it or not, it is still neutral, with bullish bias

FX:SPX500   S&P 500 Index
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At least for now, in the short term more indicators support the Bulls again.

Daily: Price is still trading in the thick Kumo. Two days ago the low was higher than the previous one on 17/Dec/2015. Slow Stoch is up, MACD turning up as well (no signal yet).
In fact Price is reaching short term equilibrium again at 2030, where we have the flat Kijun Sen and Senkou B line.

Heiken Ashi: Yesterday and today we have green Heiken Ashi candles with no lower wicks. haDelta is above SMA3 and both lines crossing back above zero key level. It is a bullish wave. Period.

Will Kijun Sen block the bullish move again, or will the Bulls get back in power? That is the question. If Price closes above Kijun Sen, then SP500 can turn bullish again targetting 2075-2105 range.

4 Hrs:
Weak bullish Tenkan/Kijun cross, medium bullish Chikou SPan cross, and Price is just trying to cross above 100WMA.
The Kumo here is thin. DMI gives an early bullish signal, but still needs confirmation from ADX side.
Obviously 2040-42 is the ultimate short term level to decide how powerful the bulls are.

If you bet for long direction again at some point, you need to place your stop ard 2004. If you are short still, make sure you have a protective stop ard 4 Hrs Kumo and key supp/res levels, or maximum ard 2055 as marked on the Daily Heiken Ashi Chart


It is still annoying, with a mental insanity bias :)
Kumowizard TomPipTrading
Yes, I understand what you mean. Extremely difficult to trade it. Extremely difficult to do proper timing and to hold on with positions.
Even myself I see it once bullish, then few hours later bearish and a day latr bullish again.
Just look at what happened after I placed this post. Bang, down again. And at the end of the day, back up.
When something is not clear, better not to touch. It is never to late to enter, regardless if it goes higher or lower.
Btw the increasing volatility and too much noise in all of instruments made me to start turning to Heiken Ashi technique as an additional tool. Of course when something is not trending, then trend folowing strategies and techniques won't help you too much.
And as I wrote, the daily Ichimoku picture tells us sp500 is not trending at moment.
+1 Reply
Totally agree! Don't bet on direction: spot and position according to the trend! Either late or early. But this SL eating monster...