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S&P500

S&P 500 (SPX) : 6 Days Rally and the Resistance

SPX has rallied for close to 6 days now (at the time of posting, SPX is still up).

On the Daily Chart, we can see that SPX is close to hitting the kumo resistance.

At this level, it is difficult to establish new long positions. And it is equally difficult to short from this level as there is no clear setup to do so.

Perhaps, in another 2 weeks when the major banks have reported their earnings, things will be clearer.

By iam802

Trend trading with Ichimoku