There really isn’t a whole lot to say about this 30 minute chart of the SPY. The market is above all the moving averages (5, 10 & 20 day shown here) and the pattern of higher highs and higher lows remains intact. The market has gotten a little choppy up here, but until support levels are definitively broken and moving averages flatten out or start to head lower, the buyers remain in control. Over the last several weeks, I have heard every reason that a reversal is imminent; Bollinger bands, MACD divergences, retracement levels, VIX , volume levels, etc. The problem with those studies is that price disagrees, focus on price action. I do not suggest that you ignore all the other information, instead use it for position sizing and risk management decisions, but don’t miss out on or fight price action! Right now I am a lot less focused on the SPY levels than I am on the individual stock stocks where there remains a lot of bullish action, I will stay focused on that action until price action tells me not to.