We ended the slightly choppy week on a very positive note, which is just what we want to see.

In bull markets we often see early day weakness but then strength into the close, as institutions do their buying.

This is doubly so when it comes to looking at weekly charts.

A strong close to the week is super positive.

The trend remains up.

A nice little shake and bake this week for SPY as it tested and held the breakout area nicely.

Now we’re setting up a little U pattern which is positive and gives us 230 as a buy area now.