SPDR S&P 500 (SPY)

[2bit-nothing]

The odds are in favour of the bears now. If ur trading on the assumption of a H&S formation, then 410 by Jun 26, break out of the down channel to the upside to form the complex right shoulder by first week of July and come crashing down to complete the H&S target. This will play out the Bradley model. By Sept it will start to rise again.

This is the bear case. Now the bull case. According to T theory this is the cash build up phase. The last cash build up phase was about 2 months from Jan to Mar, therefore, I would not be surprised to see a sell-off of 2 months starting July to Sept before the next bull rally.

This satisfies everybody. Will see how it plays out.

2bit