AMEX:SPY   SPDR S&P 500
293 1 8
Chart is showing continuation pattern within the trend- if the pattern is to fail (187 and 188 levels very important) than the higher high is not going to happen and probably the bullishness of the trend will fade. The red, green, blue patterns are only for visualization of the whole pattern structure.
IF: the AB=CD pattern is going to be successful, not only the new high is printed on chart but also notice the broadening top pattern and with that a corrective move.
Happy Easter ! /with the wolfe wave ;) /
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