It Did It!

I don't know what the impetus was but the SPY finally broke the $110 level, it came almost out of nowhere on a diminishing volume rally. right now it's at $110.15 and as I mentioned about all the orders lined up there for market makers and specialists, volume increased by at least 6 times the previous volume and around the same amount compared to the 50 bar 1 min moving average. Now is the time to watch for a break down below $110. If we don't break below today, then we have to reevaluate , but if we do, remember the plan that I posted a day or to ago (I think last night). A break back below $110 should lead to a rapid decline.