S&P 500 Consolidation

Hello, I am the S&P 500 and I am here to annoy the hell out you whether you are a bull or a bear. 

Just look at how perfectly this robot stopped at the SMA 200 on this morning’s little jittery squiggle.

Call it a Triangle (continuation, implication upward but nearly as often it seems, they go the other way) or a Diamond (often seen as a reversal pattern, but nearly as often seems to continue a trend).

What it actually is a consolidation in preparation for something… which should arrive shortly.

I have been short SPY straight out with no leverage for a few months now.  So that is a hint about the direction I think it’s going and also about the limited conviction behind it until the consolidation breaks.