Keep a tight focus on the daily Ichimoku Cloud. Every time this year, when we’ve seen the S&P 500 (ES) drop below the 50 simple moving average (SMA) it’s continued to bleed down to the daily Ichimoku Cloud for a nice dip buy opportunity.
On Thursday, we finally saw a strong pop off of the daily Ichimoku Cloud back up to where the move originally started.
This year we’ve seen steady explosions lasting about 1 to 2 weeks off of the daily Ichimoku Cloud. Let’s see if we rip higher on Friday past the 50 SMA, daily mean, and the $4,480 key level to a new all-time high or roll back down to the daily cloud again.
Our focused list has ROKU pushing to Point Of Control at $338, MRNA showing an uptrend, FB down on the week, and AMD waiting for a wedge breakout. Watch the video above for a full rundown on the major indices and key levels we’re watching next for our focused list.
Stay Focused!