there is a Pennant here in the spy

The bias is up in an uptrend.
It looks like it may have resolved already .... I wish I wasn't too lazy to look at the volume... Ok I looked at it, and it's neutral... and infact it would suggest that this little upswing we are on at this moment isn't all that "Bullish"...
Pennants are consolidation patterns, and suggest we are Waiting....

let's remind ourselves of what I said over the weekend that today vacuum for information, and in the absence of actual data we will go down, as we will have a tenancy to "Worry".

I also want to say that One of my Models would suggest that we "correct from Today through next Monday/Friday..... I feel bad to pull out a "Bullshit Hedge" on you. But there is a solid chance that all the Calls that have been purchased in the last expiration period will be Sold this week.... But one could think that those buying calls, may have a tenancy to want to Exercise them, to add to Real Portfolio's as opposed to cashing them in for trading.... Meaning the Options are in the hands of some of the Money Players in the market for Long Term holds.

But it's just an Idea... or a bunch of Scatted bullshit.

It's a Fool that "makes Calls" in the market, and my batting average for a target is .333 as a general rule.... But I'm willing to stick with my 88 SPY target.

and it's an interesting hedge below 84.50

and the target of the pennant is 85.80

but if you want some Bullish Counter sentiment, the woman on MSNBC talking about the market Just called a TOP..... SO for those in the Bear camp.... You have Contessa Brewer who agrees with you on MSNBC ...

Wow, does NBC give out those yellow sweaters?