After a few volatile days the SPY
is back above the 100MA and the FISHER (300) is still above mid point. Assuming that the trend continues, SPY
is likely to reach it's previous high at top of reference channel in the short term and continue on to top of green CLONE. Since we all know that price action does not follow a straight line, I placed a 50% Fib. retracement in each channel as a general guide. One concern I have is the lower highs and lower lows.If we break KEY support the near term target would be near mid red CLONE channel.