bigrediska
Long

Five unsuccessful attempts to break 184.

AMEX:SPY   SPDR S&P 500 ETF TRUST
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Five unsuccessful attempts to break 184. I think this will be enough.
Awesome! You so rarely see anyone use the upside-down h&s accumulation pattern! Awesome look, and it lines up with what I've been predicting. We've closed above major support today and have easy room back to around 189 and a quarter, most likely fading from a bump against the 190 psychological resistance. I was basing that purely on price action; the 120 makes the pattern quite clear.

Everyone wants to be bearish in this market, but it's hard to be with the feds propping it up. Until they turn decidedly hawkish, we can expect S&P to continue to rise.
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