We sure hope so. The only problem is it's such an obvious technical pattern that everyone is looking at. However, if we do see a breakout, the SPY could make it back to $140 in short order.

Back in January, I wrote this post The Sentiment Cycle applied to the SPX chart .

The S&P 500 is testing the November support zone, and therefore, is likely to find strength to push higher in the near term.  The June targets are outlined, and June is shaping up to be an

Take advantage and look for some stock bargains, or just keep it simple and position in the S&P 500 index itself.  There is a ton of support at this 1305 level for the S&P, a

Support at S&P 1340 looks incredibly strong after holding rock solid all week.  The market has shown resilience and for the first time in a while the bulls have a ton going for t

Simply put, shorting the index for the next whipsaw down is the play.

There is heavy resistance at 1395 for the S&P 500 going back to 2008.  This level is a short term upside target for the index, but the rollercoaster will likely continue to intensify this&

Since the S&P 500 target was met Friday, and upon careful review, it is clear that the rally up from the October 2011 lows is now over.

The target level for the S&P 500 index is 1340.  Last week, the index reached 1333 - within 7 points of the target level. 

There was a small pullback yesterday, but it appears that the pullback has completed with more upside coming next.