🚨🌩 SPX 1Hr: Major Bearish Ichimoku Cloud - Avg Drop 10% from ATH / Historical Analysis ⛈🚨
In this analysis, I look at the current SPX 1Hr Ichimoku Cloud vs. recent historical performance.
Summary: A Major Bearish Ichimoku Cloud is forming on SPX Hourly. In the last 2 years, only 3 clouds like this have formed like this, each resulting in a significant dip.
Observations; Mar '20: Major Crash 15% on first dip, followed by more - Unclear if current cloud may result in similar crash
Sep '20: Significant Dip 10.6%, happened with 2 bearish clouds - Current cloud has possible short-term similarity
Oct '20: Significant dip 8.9%, happened with 2 bearish clouds - Current cloud has possible short-term similarity
Current:
1.Major bearish (red) cloud has formed, Kijun Sen (red line) is dominant. - This is a significant red cloud formation compared to red cloud formations over the last 2 years. - You can observe just 3 more occasions such a significant red cloud formed, which resulted each time with a significant dip or crash - A dip of around 10% from ATH (similar to last red Ichi clouds) would result in a pullback of the SPX to 4100 range
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