BATS:SPY   SPDR S&P 500 ETF
549 4 3
I was bearish before, but now I m bull, because this channel continues to be intact, and it just made a new high on May 3, 2013. I realize that even though the fundamentals are weak around the world, the Federal Reserve Bank will continue with their aggressive monetary policy . Thus, the market will continue to rise as long the Federal Reserve Bank is supporting this market. Regarding to the peak pattern from previous consecutive four years, this period is different , because we have the Federal Reserve Bank supporting the rally.
@KevenT, @Leclaireur, This is long term view, I'm not speculating the next move. I'm just stating that we continue to be in a bullish pattern nothing more or less.
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See my Megaphone Top pattern :)
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Leclaireur Leclaireur
It is a real existing pattern btw, just so you know
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Looking at the extend of the upmove, compared to the previous moves, ready for a retraction. However small it is.
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