SPX: Strong Day

The SPX finished up strong to create another 20 point solid white candle on the daily chart to close at 1284.26. Next target on the upside is to conquer and hold 1290. Of note, is that the SPX "CLOSED" above the 30MA on the daily chart for the first time since June 5th.

It may chop sideways for a while as it attempts to hold and test the 30MA so be prepared for some whipsaws. Just be aware of the 30MA and that the price will likely hang around that area for a while. If it rallies up quickly, be prepared for it to pull back and test the 30MA again.

With today's close the SPX has confirmed a "higher low." The next few days of trading should tell us if the SPX is able to create a new "higher high."

SPX Daily Chart: