Monday, July 24, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Level Next? - Week 4 of July 2017.

Zoom into chart .. 

Introduction / Primer to Ichimoku can be read at this link (click).

Learning from last Week:  (click here for the previous post)

Index firms up above the 200% Fibonacci retrace of the 
July 2015 High to the February 2016 Low (Last major Hi-Lo). 
Bulls kept well above the Tenkan Sen last week.


Bulls clear the 200% Fibo of the last Major Hi-Lo.

Looking forward into this Week:

Bulls now seek to stay above the 
200% Fibonacci retrace of the Last major Hi-Lo. 
Index Support and Resistance possibilities (new) are marked as above. 

Bulls look to make new ATHs, staying above current support at the 200% Fibo retrace, of the above mentioned Hi-Lo.
Bears seek to take the index below the 200% Fibo retrace, and take the index below the Tenkan Sen.