sorry for the long title
this is 4h S&P500 (cash) Ichimoku chart.
as you can see, the price broke above 4h cloud on 26th July 2006 (1).
Since then, the price never broke below the cloud at the close base. Only time it did try to penetrate below the cloud is during the week of 8th January 2007. (2)
during the next week (12-16 Feb), 4h cloud bottom will be around 1422.33 (cash)
the week after (19-23 Feb), the bottom will go a bit higher around 1426.65
after that (the week of 26 Feb), the bottom will be around 1428.48 and the top will be 1441.59
I will start making the med/long term short positions as soon as the daily close is below those bottoms, then add hell of a lot once those bottom becomes the resistance.
we will see if the top is in during the next 10-12 trading days
Started by
Tokyo
, Feb 09 2007 03:09 PM
No replies to this topic