S&P 500 (SPX) : Chart review as of Sept 1, 2010

This is the end of day chart for Sept. 1.

SPX scored a major bullish move early in the trading session and hardly retraced much after that.

With the Ichimoku Daily Chart, we can see a few signals aligned :

1. 1090 is the kumo resistance. A break above this will be a good indication for a move towards 1130

2. RSI is pointing up

3. Force Index is pointing up.

If all 3 of these holds up well for the week, we have a good chance for a great run towards 1130.

By iam802

Trend trading with Ichimoku