SPX finally managed to close above the resistance line around 1185 and is aiming for the April high. DOW has touched the April's high and Nasdaq is already above that level. All this looks bullish on longer time frames. Weekly DMI while bullish is losing a little bit of momentum but daily DMI looks good.
On 60 minutes chart we still have a bullish EMAs crossing and price is above the rising 5 days SMA. This looks very good on intermediate time frame so I am holding on my longs.
As expected dollar moved down after Fed's meeting but surprisingly gold also moved down and looks like now is rather doing a lateral consolidation than moving up or down. I am basing this conclusion not only on EMAs crossing that is about to give (maybe) another "sell" signal but also on daily DMI that turned red for the third time in less than 3 weeks.
