Weekly:
- Back above Kumo, but note that Kumo is thin and flat below Price. It can be as easy to break below, as it was to break above.
- Heikin-Ashi is still bullish, but watch out, as haDelta/SMA3 makes a cross at extreme high! This pace probably won't be sustainable in coming weeks.
Daily:
- Ichimoku is firm bullish, but price far above Kijun Sen. Kijun started to pick up as past candles 26 days before falling out. In about one week, Kijun will be up to ard 1990.
- PSAR and Tenkan not yet hit. This has to happen to generate a pull back (correction). Lower keylvls: 2031 / 2011 / 1975
- EWO is bullish
- Heikin-Ashi candles continously bullish, but haDelta has built an extreme bearish divergence.
- Price reached first important and probably stronger trendline resistance. Next above is only at 2090-2095 (ref. weekly chart)
- ATR (volatility) dropped a lot. This is also reflected in VIX index of course.
Summary: either we agree or not, this market is technically bullish now. However it is also stretched and probably has gone a bit too far without correction. Negative divergences developed further. As Price action and setup is really far from a strategic downturn, I still don't recommend outright shorts. I still prefer buying June Put spreads. That has limited downside, but enough time to turn profitable, as I think a pull back will happen rather sooner than later.
I increase bearish option bets, not yet outright shorts.
- Back above Kumo, but note that Kumo is thin and flat below Price. It can be as easy to break below, as it was to break above.
- Heikin-Ashi is still bullish, but watch out, as haDelta/SMA3 makes a cross at extreme high! This pace probably won't be sustainable in coming weeks.
Daily:
- Ichimoku is firm bullish, but price far above Kijun Sen. Kijun started to pick up as past candles 26 days before falling out. In about one week, Kijun will be up to ard 1990.
- PSAR and Tenkan not yet hit. This has to happen to generate a pull back (correction). Lower keylvls: 2031 / 2011 / 1975
- EWO is bullish
- Heikin-Ashi candles continously bullish, but haDelta has built an extreme bearish divergence.
- Price reached first important and probably stronger trendline resistance. Next above is only at 2090-2095 (ref. weekly chart)
- ATR (volatility) dropped a lot. This is also reflected in VIX index of course.
Summary: either we agree or not, this market is technically bullish now. However it is also stretched and probably has gone a bit too far without correction. Negative divergences developed further. As Price action and setup is really far from a strategic downturn, I still don't recommend outright shorts. I still prefer buying June Put spreads. That has limited downside, but enough time to turn profitable, as I think a pull back will happen rather sooner than later.
I increase bearish option bets, not yet outright shorts.
