To help a better evaluation of SPX movement, I will break it's rising channel into 2 small ones. If I did it last post, my support box could be more precise. Anyway, as expected, the Monday action was very bullish, the target 1370.58 mentioned tested, and who sold dip would regret.
Trading setup for 2/28/2012
Following the trend remains my first choice. Watch closely the light-blue channel and I will buy any dip to lower line.
My short term target (within 3-4days): 1380 - It's about 0.9% from Monday's close.