Based on that price action and it closing above the 50MA, the bias is still up.
There is some overhead resistance at the 100MA at 1335 but as we keep pointing out, as long as it remains in the upward trend channel we have to stick with the uptrend.
SPX Daily Chart:
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Your chart is mot helpful as it shows a harami at 38.2% retracement!
Fib retracement having been achieved, the market will now turn down.
It's been a Dollar Rally and in my article, entitled 'Investment Strategies for 'Peak Dollar', I write that last week was a parabolic rise in the US Dollar and outside of the Russell 2000, the financial sector, the consumer discretionary, home building a few other consumer sectors, the stock market really wasn't benefited. And I wrote of many technical factors why the Dollar Rally is over.
The USD/JPY tonight is turning down; and this is likely to cause EUR/JPY and the world markets to rise.
With higher commodity currencies, gold is going to rise.
I recommend that one go long SKF and DGP; And I recommend that one go short FXP, and EEV and XHB.
I also recommend that one invest invest in gold at BullionVault.com and GoldMoney.com
Please begin coverage of the above ETFs on your blog.
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