Market Review: Bullish Bounce

So when I posted last week I was a little concerned about the break below the trend line and that would turn into something a little more pronounced.  However, over the last 2 days the bounce on the SPY has been really good.  So, is this the start of a new move for the SPY?  It's getting there.  The resistance at $147 is something to keep an eye on as market moves up.

I don't believe we are at a top of this run I have not seen significant above average selling during the last month that would put up red flags telling me to back of this market.  On the contrary, there has been enough positives in the market that as a bull I would be very encouraged by.  I think that as the SPY breaks $147   it will pick up momentum and it could possibly trade all the way up to $151 where the top of the channel is.

S&P 500 ETF

Happy Trading