Aug 4, 2010

CFD SP500 - One more bullish weekly signal

We have one more strong buy signal on weekly base, given by the MACD(circled in red) . I've noticed that the big shots open their thick wallets  in such cases as well.  
The price currently is licking the upper channel line, but it's still in.
The calculated short term target on daily base becomes more real in case we break the channel upward and close above it. Short break around 1138 could accumulate little more buying power.
 Strategy: Buy.
           Cover at 1150.
Stop at 1085 if something went wrong.
Good luck!