Futures/Index/Ichimoku: S&P Mini-Futures/SPY: 6-19-07: Update

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  • Futures/Index/Ichimoku: S&P Mini-Futures/SPY: 6-19-07: Update

Right now, the SPX is in consolidation mode. Also, we didn’t close at/above the .886 Fib value. This is not good for the bulls right now. Also, one of W.D. Gann’s theories is a top is achieved when a second lower top is reached. The second lower high is typically at the .707 or .886 Fib value. The next couple of days will tell us everything. We need to close above the .886 Fib value for the bulls to have a chance to break the SPX high.
Here is the Harmonic Analyzer for the daily timeframe
Here is the weekly timeframe.
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