My Chartnexus is working again. ;) So I thought I would post this as well. It shows all my favourite indicators. Firstly, the ichimoku kinko hyo is represented here. Then the volume traded, plus the moving averages - 50 day, 200 day respectively in blue and red. And pivot numbers showing all the supports - S1, S2, S3 as well as resistance - R1, R2, R3.
So you may ask, what does this all mean? To be honest, I am not too sure either. I just know that the S1 support line at 1396.640 might offer some resistance, and in this sense, it is good because the ichimoku indicator doesn't show the supports within the Kumo (Cloud) itself.
But the top of the cloud is also a resistance line, and that is measured by the pivot 1407.370. So my take for this week leading up to JanWk1, the SPY is most likely to be trending sideways. Anyway, let's see what the market offers us tonight. My feeling is it is likely to be trending sideways, so it will move in between 1407.370 and 1396.640.
I know it is a tight little window, but I have a feeling the opening and closing price tonight will be in between this range. :) Otherwise, happy trading people! ;)
No comments:
Post a Comment