GXY
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  1. ProCapitalism
    4,644 Posts.
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    19/01/18
    12:28
    Post #: 30413650
    True

    But with Ichimoku charting the SP WILL bounce off/interact/hug/ the Tenkan Sen, Kijun Sen & Kumo a lot. It's just how the indicator works. And on the monthly (LT) charts the SP has been trading well above those 3 indicators for sometime now.

    This correction was needed to bring equilibrium back into the market. Markets always go from oversold to overbought then back to oversold. On the monthly chart the Ichimoku indicators point to us being overbought for months now.
    GXY Price at posting: $3.47 Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 3  Upvote
    lightbulb Created with Sketch.  Great analysis
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