Kumowizard
Short

Serious indecision, weekly weakness, protection of 2150

FX:SPX500   S&P 500 index of US listed shares
234 5 9
Weekly:
- Ichimoku setup still has bullish bias. No big drama until price holds above 2091.
- Heikin-Ashi shows Bulls are almost completely out of power. Lot of indecision in the market, lack of momentum .
- See all other comments in the chart

Daily:
- Ichimoku is absolutely neutral. Equilibrium is clearly at 2150!
- Whole week (4 days in a row) bulls try their best to protect 2150 key level. Bears try counter fights and get stopped sometimes. This makes the whole situation complicated. Price action is very noisy, even with noise filter Heikin-Ashi.

Technical signals not clear for a sell. BUT the structure carries a lot of weakness, and NOT bullish at all. I think market is seriously underpricing risks.
Tomorrow we have end of month and end of Q3. Bulls must hold it for the reval. But the week-end is gonna be long... very long. And the following weekends until US elections will be even longer!

If I were long, I would surely cut exposure.... but you know me, I am already positionned bearish .
jacxia81 PRO
2 months ago
hi,

how about now? are you seeing more bearishness?
+1 Reply
Kumowizard PRO jacxia81
2 months ago
On the daily I see it as same neutral. However on the weekly and monthly I see further loss of previous bullish momentum. It may turn lower within 1-2 weeks. So probably the long term charts started to show a more counter bearish picture for the short term (hope it's understandable) :-)
Reply
jacxia81 PRO Kumowizard
2 months ago
thanks for your reply.
Reply
2use
2 months ago
Youre still short on it?
Reply
Kumowizard PRO 2use
2 months ago
Some I closed yesterday. But I am still short
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