More divergence points to a pull back.Get ready for swing short!
Weekly:
- Bullish trend and Ichimoku setup with supports at 2088 and 2055
- Heikin-Ashi candle is bullish, and even made a higher high, but haDelta has been warning us about decreasing momentum. Every bull market needs time of consolidation or pull back.
- EWO and MACD are strategic bullish
Daily:
- Ichimoku setup is bullish, but price is too far above equilibrium. Regarding Kijun Sen we can make one observation: within next 3 dys it wil start to move up very quickly, as the big red candles with their deep lows 26 days back will fall out of the average. I marked by a purple line where the Kijun Sen will come up to within a week. This line also matches the breakout level, and makes important support for the market.
- Heikin-Ashi shows indecision! Market has been moving sideaways for 9-10 trading days. It looked like a bullish continuation yesterday, but as European indexes got another hit, it failed to keep new gains. The price action and also the relative value to Nasdaq100 suggests SPX is levitating here not because of a general bullish force, but because of sector rotation.
- haDelta/SMA3 is testing sub zero zone! -> another short term bearish warning
- Look at the SAR signal! It is extremely rare to see it as close to spot price as it is now! Basically SAR is up to Tenkan Sen at 2168!
- EWO shows negative divergence
- ATR shows extremely low volatility.
4H:
- Tigh yoyo around flat Kijun Sen. By now Kumo got thin, and all averages stay at same level: less support in case selling starts.
- Key zone is 2166-2170 (spot SPX). A close below will trigger counter trend move, with a possible tgt to 2115-2125 zone.
I am ready for the swing sell. Are you?
- Bullish trend and Ichimoku setup with supports at 2088 and 2055
- Heikin-Ashi candle is bullish, and even made a higher high, but haDelta has been warning us about decreasing momentum. Every bull market needs time of consolidation or pull back.
- EWO and MACD are strategic bullish
Daily:
- Ichimoku setup is bullish, but price is too far above equilibrium. Regarding Kijun Sen we can make one observation: within next 3 dys it wil start to move up very quickly, as the big red candles with their deep lows 26 days back will fall out of the average. I marked by a purple line where the Kijun Sen will come up to within a week. This line also matches the breakout level, and makes important support for the market.
- Heikin-Ashi shows indecision! Market has been moving sideaways for 9-10 trading days. It looked like a bullish continuation yesterday, but as European indexes got another hit, it failed to keep new gains. The price action and also the relative value to Nasdaq100 suggests SPX is levitating here not because of a general bullish force, but because of sector rotation.
- haDelta/SMA3 is testing sub zero zone! -> another short term bearish warning
- Look at the SAR signal! It is extremely rare to see it as close to spot price as it is now! Basically SAR is up to Tenkan Sen at 2168!
- EWO shows negative divergence
- ATR shows extremely low volatility.
4H:
- Tigh yoyo around flat Kijun Sen. By now Kumo got thin, and all averages stay at same level: less support in case selling starts.
- Key zone is 2166-2170 (spot SPX). A close below will trigger counter trend move, with a possible tgt to 2115-2125 zone.
I am ready for the swing sell. Are you?
