SPDR S&P 500 (SPY)

[risk on]

The more I look at the longer daily chart, after a double B has occurred ( which we just saw) and the 9 EMA crosses up through the 27 EMA, I'm really hard pressed to find too many examples of where there was not at some degree of continuation UP , w price staying between the upper BB and 9 EMA. That continuation shows an Avg ( rough avg) of APX 2.5,weeks in OB on oscillators. Some quicker fall backs prior , obviously, and some periods similar to OCT. long story short, I am looking for a fall back to the 9 EMA, and that holding as S, for more continuation. It is not improbable that we may see 200 - 203 before oscillators fall back to OS, but not likely. It seems more likely , based on % moves on the post event pattern, that 198 is the upper limit before a turn back to OS, with a T line touch and bounce , at least once prior to.