50 day ma crosses 200 day ma, page-11

Part of my introduction of ichimoku indicator to the xjo thread was the 2 day SPX chart.

The first chart is a wide view to compare 12 months ago since it is comparable.

I have added a 41 EMA in heavy pink. Rob recently suggested that it tests three
times before a move. Winki posts of testing the 21 ma three times.
Look at the may 08 tests of the pinkie. This time it is using it as support.
It could be suggested that it just tested it for a third time.

From my ichimoku point of view, price is above the cloud, red and blue are above
cloud and now the brown (closed price set back 26 periods) is above the cloud.
This is an entry to go long.



Same chart up closer.

A golden cross on the daily is due at around the 900 mark.
I have marked what I consider the R&S.
Some support is dynamic and rising.

The trendlines were out of interest. I found that they played resistance at the 850
and now they look like support.




That all looks like bull trending, so let's have a look at the weekly for resistance.

There it is. Price is still below the cloud. Normally I find price struggles to enter the
cloud without that red line ready to enter the cloud. The circled candle is 9 back.
When this chart changes to the next period the red line( H+L/2 for 9 periods) will
drop off this low and the red line will point north. The next candle to drop off is also
a low. Will this be enough to get the red line to the cloud?

For the next candle the support at 888 comes into play.

I'm bullish but it needs to get into this cloud safely with the red line.