Kumowizard

Consolidation, with increasing bullish bias

FX:SPX500   S&P 500 Index
473 0 3
Weekly:
- Price below Kumo, but no lower low last week. For bearish continuation it shoudl dip below 1900 and later 1820
- Supp/res levels 2000 / 2020 / 2050
- Heikin Ashi candle still starts as bearish this week, but haDelta/SMA3 shows further consolidation is possible.

Daily:
- Volatile consolidation below Kumo and Kijun Sen. Ichimoku setup is back to neutral! -> Chikou Span hit past candles, lost open space. Tenkan (9 days average), and Senkou A (17,5 days average) started to point up, Kijun Sen has been flat. Kumo is thin above Price.
- Price stuck in a tightenning triangle (flag?). Would be more bullish again above 1975 - 1995, bearish below 1915.
- Heikin Ashi has been giving mixed signals, but candles could not make a substantial lower low during last 5 trading days. haDelta/SMA3 has been ticking higher, trying to cross back above zero line. All this means the bearish bias dropped a lot.

Right now the daily Ichimoku and Heikin Ashi picture together shows the consolidation continues, but the bias is not that bearish any more. And upper break surprise can happen until FED FOMC.

4H:
This time frame starts to look more bullish .
- possible double bottom
- Ichimoku setup is turning towards bullish as Price attempts a breakout above Kumo and averagses point upward.
- Heikin Ashi signal is bullish .
- Break above Kumo and 100 WMA can shoot it up initially to measured tgt             of 1990-2000.

I closed all my remaining shorts last friday. Actually I am 0,5 unit counter long. Stop loss at 1919.

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