Kumowizard
Short

Bulls and red line saved again,but BE CAREFUL! IT's NOT BULLISH!

FX:SPX500   S&P 500 index of US listed shares
423 3 12
Weekly:
- Not much change, Ichimoku is still NEUTRAL!
- Not much change, Heikin-Ashi is still BEARISH!
- haDelta is BELOW ZERO, it is a very serious long term warning!

Daily:
- Bulls got lucky with a thick Kumo, which acted a precise support/resistance by tick at 1993. But look ahead! What are Senkou lines doing? Senkou B (52 days average) just jumped up to 2040! Right now Tenkan, Kijun, Senkou A and Senkou B are all ard 2040! This is the new equilibrium! And this is one great advantage of Ichimoku: it is able to raise your attention looking forward!
- Heikin-Ashi price action has turned bullish , but 2090 is a resistance now. Watch haDelta, as this quantification tool may signal loss of bullish momentum earlier than the candle colour change itself. The bullish swing move can slow down after OPEX tomorrow and of course with no real action next week. What will we see between Xmas             and New Years is a good question. I remember what happened in 2014... do you?
- EWO             is neutral, not bullish!

This market is NOT bullish! The best I can say it is neutral. It would be bullish only with a daily and especially with a weekly close above 2120, and with weekly haDelta moving back above zero line!

Now the ultimate key reversal levels are coming higher. All Bulls and Bears must watch closely: 2040 / 1990 / and 1950-1965 !!!
On the upper side it is 2120, let's not ignore that, we can not completely close out we see another 6 years of bull mkt from here... after all 10 years of rate cuts, ZIRP and gigantic QE who knows, maybe even a rate hiking cycle will also be perfecly good for SP500!!! ;-)
Trade price action, the rest is bullshit! :-D

Please read again my other long term analysis below.



Excellent. Do you see sub 2000 in the next few days ?
Reply
Sry for the late answer... but anyway, I can not and do not give a price prognosis for few days. What I see is it is increasingly bearish. We are very likely turning into a bear market after 6 years. My interest is not these 1-3 % moves. My interest is to build bigger position, sell every spike and cover after a 15-20 % drop.
+2 Reply
thanx, looking for a good analysis of what it is
Reply
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