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S&P500

$SPX . Kuo support for a year end rally.

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&b=5&g=0&id=p80947301804

With 2 more weeks towards the year end (and possible window dressing), $SPX is offering a good opportunity for a short term long entry.

From the Ichimoku chart, we can that $SPX is sitting right on top of a fairly thick kumo support at around 1218.

The base of the kumo is flat which suggest that the price has consolidated at this level with a hint from the leading kumo that it is striving to break through and continue the uptrend.

I will look for an entry with a target of 1280 with a 2 weeks to 1 month timeframe.

By iam802

Trend trading with Ichimoku