Evening Folks and welcome Newcomers
Well what an exciting week especially for LT holders who managed to keep the faith amongst some trying times over many months. The launch of Brazil on Thursday was a huge milestone for TV2U which has well and truly restored confidence - also a shout out to MMM for his little find.
Looking at the daily ichi chart no surprises that all ichi indicators are bullish and in bullish territory above the kumo (cloud).
Looking at the lower indicators we can see a MACD Cross and how the RSI showed the SP overbought on Thursday which was also noticeable on the chart where the SP stretched way outside the BBs.
- Kumo Breakout - SP broke above the kumo (cloud)
- T/K cross - tenkan sen (blue turning MA) crossed above the kujin sen
- Kujin Sen Cross - SP has crossed above the kujin sen (orange standard MA)
- Senkou Span Cross - SSA crossed above SSB (kumo twist)
- Chikou Span Cross - chikou span (green lagging MA) is above the SP
We can clearly see the gap up and large green bullish candle with massive volume that produced a 'Kumo Breakout' into bullish territory above the kumo (cloud) confirming the SP is now in an uptrend on the daily chart.
Today the SP pulled back showing a small red bearish candle on lower volume eventually finding support at 2.0 and closing at 2.1 with resistance now at 2.3 - as much as we would like the SP to continue full steam ahead a consolidation around these levels would be healthy.
Looking at the weekly ichi chart below the SP finally broke through the resistance at the bottom of the kumo and is now consolidating in neutral territory in the Kumo so atm it is neither in an uptrend or downtrend.
We have a MACD Cross and while most ichi indicators are looking bullish - going forward we are still looking for a 'Kumo Breakout' with volume - bring on Indo!
JMO GLTAH and enjoy your weekend.
Cheers SL
