Despite the relatively light volume yesterday, SPX ended up and above the Chikou Span resistance.
We also have a secondary confirmation outside of Ichimoku. This comes from the Force Index below. From the chart, we can see that the Force Index has turned ‘bullish’ and this may be a good time for a long position.
If SPX close above the Support level of around 1200, we will have a confirmation that it has break out of the trading range. After which, next target is to go above the kumo at around 1229.
Notes:
– Do we still feel any fear? Euro issues? US ratings issues?
