SPY - take 2

The SPY didn't confirm the breakout above the inverted H & S neckline so I left it alone, however, the weakness got me thinking about the SDS (Ultrashort S & P 500 ETF) and SKF (Ultrashort Financials). Neither made very big moves, but they were fairly predictable and provided some nice day trade profits. Tomorrow is another day for the SPY - with AAPL reporting after the close you may have to wait another day for the big SPY bull move but I can be patient. Just keep watching that neckline for a strong break above. The bottoming tails on the last 2 daily candles tells a story of bulls that are chomping at the bit. Lastly, take a look at the AD study on the following chart - the institutions are accumulating.