SPY - Bullish bias still intact

The markets have taken a bit of a breather over the last week or so. This type of price consolidation is common after a strong move and can provide good opportunities to get into the market for the next leg. In this case we have price still consolidating but starting to hug the upper range of the consolidation area. A potential entry is on the breakout of the range or if you are already long simply waiting for the pattern to breakout and the next leg up to begin.