Another month another dolla.... So what's the story with spx500... Everyone is all over it on twitter... Lets see
Monthly: -Last month's HA was bearish red and we have two candles with spikes at support area -Prices are still below Tenkan -EWO red -Ichimoku is neutral as price is above cloud but below TS and KS
Weekly: -Prices bounced from 1800 zone. -HA printed reversal there and rsi coming out of oversold territory -Chinkou hit past candles and bullish momentum can slow down soon -EWO red -Prices below cloud and below 100 wma -Last week failed at kijun and this week is not over yet
Daily: -Prices above cloud now -Above 100 wma -Near term bias bullish -Watch 2000 area as we have 200 sma coming in alongwith previous resistance -Worth noting is divergence in HA osc -EWO green showing upside momentum
Am i long? no. Am i short? no. But there were short term buy signals on 4H chart after we had weak bullish TS and KS cross. But i am cautious and watching it for now.