SPY - what's the story?

I'm looking long and hard at the SPY after it closed today and I'm of the opinion that we are seeing an inverted head and shoulders pattern confirming with a neckline at about 138.50. MACD, STO and RSI show bullish strength - and the OBV is started to climb out of the doldrums. Combined with the general herd mentality that *wants* to take the market higher, I think we have the potential for a pretty significant upside move. We have some formidable overhead resistance - the 78.6 (140.26) & 61.8 (143.61) fibos, a downtrend line, and a 200 MA - so things could go either way, but we are at a short term pivot point (138.55). As of this writing, the futures are down a bit, indicating that we might test the bull's resolve in the morning. Today's light volume only validates the basic indecision of the market but tomorrow's earnings announcements should remedy that (AT&T, Coach, Dupont, McDonalds, etc). If the open is strong and holds until 10:00, I'm buying.