SPY continues to power up, holding positive for the year and now a move to AprR1 looks quite doable.

The last few day have been very bullish for the market. NQ held its YP exact, as COMPQ broke slightly and recovered. These two tech indexes were labeled as "strong but testing" in the USA main index post, and holding those YPs was the bullish scenario for the week. Also, IWM and NYA both held their AprPs and launched, and these were the other levels I said to watch. Today, NYA moved above its YP for the first time this year, and big buying in IWM looks like it wants to go positive on the year too.

Back to the SPY chart - if you examine in detail, after recovering the FebP on 2/17 the number of days with a bearish conclusion are quite few. Selling late February did not really break the level again, and after some shuffle powered up to the YP. There was a 1 day drop, then 2 days of pause, the a jump above levels. Another pullback held Q1P as support. The recent drop didn't even make it to AprP on SPY. So from 2/17 this has been an amazing trend considering how the year started. At some point this may end, but the ideal place for that is on pivot resistance - this means it can go higher. The green line above is the 2015 high, and that is where the bigger Q2R1 level is too. Can it get there? Maybe! It would be much more typical for a rally to stop on pivot resistance than not.