Total bounced of the 200 daily ema, broke out of midterm descending channel,found support on the descending channel previous resistance and is above the weekly ichimoku cloud. These are all very bullish indications. However, the index is in a rising wedge formation and a daily bearish divergence has formed. A drop down of the rising wedge will bring the price back in the channel. I suspect that the weekly will close below the channel which would be very bearish.
