Hello Traders, SPY is still holding the bullish upward channel that we have been tracking it through. It has broke many levels that most traders thought that it would not break. We have guided you to these levels and now will continue to do so. So far it looks like we are forming a high base pattern, but if you see from the 114.67 breakout we never really did a successful back test after the level was confirmed. So maybe we head back to tag that before a move higher. On top of that we have the 20ma and the channel line coming to the same point, which will also offer some strong support. So play the cards right and this action still looks bullish.
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