WEEKLY (W1) Upcoming weekly closing level would be very important to look at, as it will either VALIDATE or INVALIDATE the upside BREAKOUT OF THE TOP OF THE WEEKLY CLOUDS RESISTANCE AREA @ 47'407 !!! The Mid Bollinger Band (MBB) @ 44'555, briefly broken yesterday, worked perfectly well as the support level in this weekly time frame DAILY (D1) Nice...
Yesterday's price action triggered a NEW LONG BLACK CANDLE which closed below the daily clouds @ 39'175 (intraday low @ 38'590) Currently below both the TENKAN-SEN @ 41'174 and the MID BOLLINGER BAND @ 40460 RSI below 50, @ 44.82 LAGGING LINE testing the KIJUN-SEN ! And last but not least, yesterday's closing was also below the former downtrend...
DAILY (D1) Yesterday's price action on one hand, above the cluster of TS (14'549) and MB (14'570) but..be careful, the shape of the yesterday's candle ( a doji hanging man , is a warning reversal signal which is also validated by the pullback failure to recover and hold above the former uptrend support line (in green) Indeed, today's ongoing price action is...
H1 : Failure to upside breakout the clouds by the lagging line suggest a short term top in place calling for some downside move. M15 : watch this time frame for clues over the coming hour
Here a chart of S&P500 from late 1993 to late 2018 on a monthly chart as indicators for major pullbacks. MACD has fastest response, CCI next, DPO also good but laggard for people still holding.