Another Step

Here's the SPY, we have been predicting (as a function of market behavior ) it would move above last Friday's intraday highs, which were a breakout we were also looking for.

As I said today in this post

"At this point most of the averages are looking pretty negative on a lot of timeframes which is what I wanted to see today, although I'd rather price stayed up longer." 

This was the reason I was looking for this move this week because price was only above the level for 30 minutes on Friday which doesn't allow the market to do what it needs to do, which is the whole reason we expected it to move to that level. Today we gapped above the level, but again did not hold it, it has to be held for at least a little bit, it's part of the head fake behavior, that's what the prediction was based on, simple market behavior.

A few times this week the probabilities didn't feel very good, but here we are.

We already have several of the indications in place that we need for Trend #2, but as I've said all week, "We aren't going to get strong signals, the signals we need until we are above that level".

I have a lot to check on, perhaps there will be a few positions to enter, perhaps not, it depends on where the other indications are. I'll report back shortly, but this is very exciting.