New Highs Imminent in SPY

Look out short sellers! The inverted head and shoulders pattern I have been pointing out over the last week looks to have been completed with a break above the neckline today. Using the measured move, it looks like the SPY is headed for 158.00. For all the emailers telling me to look at divergences in RSI, MACD, Bollinger Bands, Volume, etc. I remind you that those indicators are fine to look at, but they play a small supporting role in the analysis of the only thing that matters…PRICE!!