1. $SPY spent 2014 primarily range bound before its recent break out.

  2. The 5 day ema has been end of day support for the past 12 days.

  3. The 50 day sma has been support since late April.

  4. $SPY has broken and closed above the 70 RSI for the second time since year.

  5. $SPY is up 5.79% year to date. It is up 4.60% for its past one month return.

  6. There is a high probability that $SPY reverts to the 5 day ema next week.

  7. There is a very high probability that $SPY is near a pullback at these RSI levels.

  8. With the ECB & Payroll report catalysts behind us the odds favor a sideways or down for $SPY next week.

  9. Last week was the first time this year that buying all time highs in $SPY was not punished by a red waterfall.

  10. Many growth stocks did set up for possible buy points–>  Top 10 Setups in Bases as of 06/07/2014

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