Going vertical - notes about a maniac market #SPX $ES
Weekly:
- History's strongest bull trend, 14 months in a row without a negative close. Price is going vertical. Mania phase.
- Momentum has been so strong (probably the most extreme EWO high I've ever seen), that all major weekly averages are picking up quickly. Still Price is extremely far above the equilibrium marked by Kijun Sen (26 weeks average) and Senkou B (52 weeks average). -> major supports are 2613 and 2530.
- Warning: haDelta crosses below its SMA3 from extreme high level. Market may start consolidation.
Daily:
- Bullish trend
- Supports at: 2730 / 2680
- Heikin-Ashi signals a possible top and consolidation ahead: doji candle with haDelta+ and haOscillator down.
- EWO started to pull back slowly from its recent top, MACD is closing in.
- History's strongest bull trend, 14 months in a row without a negative close. Price is going vertical. Mania phase.
- Momentum has been so strong (probably the most extreme EWO high I've ever seen), that all major weekly averages are picking up quickly. Still Price is extremely far above the equilibrium marked by Kijun Sen (26 weeks average) and Senkou B (52 weeks average). -> major supports are 2613 and 2530.
- Warning: haDelta crosses below its SMA3 from extreme high level. Market may start consolidation.
Daily:
- Bullish trend
- Supports at: 2730 / 2680
- Heikin-Ashi signals a possible top and consolidation ahead: doji candle with haDelta+ and haOscillator down.
- EWO started to pull back slowly from its recent top, MACD is closing in.