SPDR S&P 500 Trust (US: SPY) has been trending up for a year and its long term technicals show further upside. We expect a slight correction this week before resumption of the rally:
*Expected timeline of the trade is 10 weeks from the date of report issuance.
Ichimoku Kinko Hyo
Red dotted line: 9 period Tenkan-Sen
Blue dotted line: 26 period Kijun-Sen
Green Line B: 52 period Senkou Span B
Pink Line A: 26 period Senkou Span A
Black line: 26 period Chikou-Span. (Lagging line)