ChartArt
Long

China and Oil bottomed, let the February 2016 rally begin

FX:SPX500   S&P 500 Index
404 2 5
The S&P 500             has created a nice launch pad for a strong rally this week.

China bottomed (1), Oil             double bottomed (2) and on the S&P 500             daily chart the MACD histogram is bullish , as well as the Aroon and the Vortex trend and the SMA 14.

Entry: Below 1900 (current close around 1890)
1. Target: 1970
2. Target: 2014
3. Target: 2060
Stop loss: 1850

(1)
(2)
Comment: So far so good. The S&P 500 rallied up to 1927 today, after my long recommendation from 1890 yesterday. The rally looks a bit too aggressive though, so I'm actually getting bearish again that this could be a top already.

The Heikin Ashi candlestick chart of the S&P 500 is also quite bullish with two large consecutive green candles:

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ChartArt ChartArt
This green is more beautiful :)

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