SPY is trading in a sideways chop probably in anticipation of the jobs report on Friday. So far today SPY has been unable to break yesterday's high at 112.77. And yesterday's high is lower than Monday's high at 112.94. So we're getting lower highs and higher lows. I would really like to see SPY break the high at 112.94 or even at least reach yesterday's high at 112.77. This would indicate SPY is ready to continue moving upwards. If SPY drops below 111.7 then I expect it to drop all the way to support from the rising trendline (partially shown) before rebounding. My strategy is to hedge if we get over 112.77 and dip buy when we drop below 112.4