We are now nearing the top end of the ascending channel, and I do believe I SPY a small gap just over 102. With the S&P 500 up 7 out of 8 days (and the other day was barely in the red) the bears could soon have a day of job coming. A move over S&P 1060 with the traditional junk stocks moving in spectacular fashion would be a nice set up to revisit the dark side, however temporarily. But either way the (very) near term risk/reward does not appear as rewarding for bulls .... perhaps 10 S&P points up, and risk of 30+ down. By the end of this week that lower orange line should actually be very close to SPY 102 (S&P 1020), so we have an interesting set up approaching.


Until the greater channel is breached to the downside, any pullback is simply a buy the dip opportunity.

Hold on I see a record; I have to go break it.