Daily S&P Futures Index Overview

The S&P Index is currently stuck in a channel since the beginning of August. There have been several attempts to break out but so far the channel has held up quite well.
Yesterday at the closing of the trading day an interesting candle bar formation has appeared right at the bottom end of the channel. A bullish doji bar with a nice tail is indicative of buyers taking control of the market. The location of the bar formation is very nicely sitting at the bottom of the the current trading range giving us a very clear long bias for Tuesday September 13th. Before getting all excited and giddy it is a wise decision to wait for a break of the top of the bar before the bull momentum is finally confirmed. I decided to mark the minor and major resistance zones in red boxes so they are clearly visible. Enjoy!!