SPY - October 3 2013 Those are some sweet looking bumps!
The daily chart for SPY looks very sweet, nice moves up, higher highs and higher lows....but is it too sweet? Just when things are looking nice and rosy the market has a way of cutting the legs out from under you. Fro the time being stick with the upward trend.
The weekly chart looks just as sweet if not even better...smoother. However, there is the continuing and ever present decreasing volume. That steady volume line heading down is of concern, again perhaps a warning signal. The declining volume alone can't keep one out of the market, keep riding the bull with all you have.....but be wary. Is a US government default possible, could that be "The Event", it certainly appears both sides are dug in and waiting it out in their political trenches.