To Chase Or Not to Chase

If you're not already long SPY then it's tempting to chase SPY here. To me it looks like SPY should hit resistance at 110.7 easily, and it might not pull back at 110.7 either and could continue all the way up to 111.7 without pause. I can't tell you when SPY will pullback so and present a good long entry, but I do know that it will occur when SPY breaks the minor uptrend line (B). I expect SPY to pullback to ~109.8 when it does break trendline B.