I managed to find some really cool Ichimoku Charts (incidentally my favourite type of trending indicator). Anyway, this is a long term view chart, and we can see that the SPY (S&P 500) has been on an uptrend since last year, but more importantly, it is trending below the clouds now.
This is a bearish signal in Ichimoku terms, and that means there is more downside to be observed. Well, whether it will go up or down will depend on the daily price movements, but for now, it looks bleak to say the least.
The good thing is, I am happier to know that it is bleak because it just means more selling opportunities! :)
That's all for now!
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