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Sunday, January 17, 2016
Important week ahead for SPX
I had a very busy week. Not much time to post and also watching what happens with key levels.
We have the weekly lower high lower low now. That is locked in. The only way that it can be candled out is with a breakout back above the weekly kumo. I would be extremely surprised if that was to happen.
The SPX mth is below the kijun but it is not confirmed until the candle closes.
The SPX weekly is on the lower support from back in Oct 2014. A rally from here is possible but likely end as a lower high.
The daily is on support but it is not a double bottom until confirmed by a bounce off support. Have to see what happens.
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