SPY breakout from consolidation - uptrend is not brokenSpy has now broken out of consolidation. I feel election year is gonna push this higher along with the economic downturn. Some will say economic downturn? How is that bullish. Its bullish because, the last thing America would want during an economic downturn is their stock market to collapse. They keep propping this up until the foreign money in the US market is at maximum levels. That when they'll dump. Once the foreign money is shaken out, they will resume uptrend. This is just my personal theory. Whichever way, the price action is bullish. Some will point at volume. Over the years, i have never found volume to be a reliable indicator.
