12/9/13 - A case for the bulls.

Going into today's trading session was definitely tricky, but building upon my post from last night it's hard to deny upside. In fact, as I write this, the SPDR S&P 500 ETF Trust (SPY) jumped about 10¢.

The below chart is the S&P 500 30 min because Google doesn't have an hourly scale. This is the same channel I pointed out on the hourly chart in my previous post. We've broken the top, and have not tested the trend line today. If this remains the theme for the day, the bullish case looks good.

S&P 500 30 Minute Chart

Also, for some truly educational viewing, I recommend checking out the latest video from Oscar Carboni.