Chart update, page-10482

@Rock57 - The updated Ichi chart is shown below. I have to say that I'm not an Ichimoku Trader but I do use the Ichi Cloud as a pretty blunt market filter in my CFD short term trading system. As you can see the SP is currently right on the top of the Ichi Cloud and still above the Kijun-sen, so the call is still Go Long. When it is in the Cloud the call is Neutral (no trade).



Back on 04/05 I said that I wouldn't be surprised if the SP turns lower or just moves sideways for a week or two. Well I guess the sideways outcome is better than the alternative. That call was based on the ultra-high volume Close's in the background and the resulting Anchor Zones (Levels) highlighted in the Cycle chart shown below, combined with my Cycle indicator which was overbought and headed down on that date.



Its amazing how this Anchor Zone around 1200c has drawn the SP back every time it attempted a move higher or lower. The current SP level is right on the top of the Cloud, and the Anchor Zone level, and now the 50MA as well. The 50MA is now flat and my Cycle indicator is neutral. I'd say the bias is for the SP to rise from here, but exactly what will break the SP out of this neutral state I do not know. Hopefully there is some good news on the horizon!

I agree with Hoots re the unfilled gap down at the 884c to 1000c level. There would have to be some really bad news to reverse the SP back down to those levels again.