With a slight change of DNA (actually this week bar); the Bear twin brother vanished into thin air!
If you look at bar (5) in 2012; this look like a good healthy green bar to me providing that tomorrow continues to be a positive or a mild correction day. The good thing about this week bar is that it stays above the lower Pitchfork median line; thus maintaining the uptrend momentum.
Giving the way the wind is blowing, we may have a bullish trend for the rest of the year to re-establish the correlation of a stock rally in the Presidential election year. Next target is to take out the upper trendline at $137.63; and then the high of $142.21 from April 5th, 2012.
Below is the weekly SPY chart:
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