As we mentioned yesterday
"After sideways consolidation, it seems the broad market is ready to breakout once again. If the bears had the power to take control, they would have crushed that 204 area in the past few days. However, with today's action showcasing the strength at 204 support, coinciding with the sideways channel its forming, we are lead to believe the market is going to break out of this consolidation in the coming days. This is a good time to be long."
Now the market gaps up those prior highs around $207, it will be key to see how the market holds this level, if it holds were off to highs! Gap and go or gap and crap, time we will, our stop for a SPY long would be vs $204 area !