Watch For Break of Trendline A to Indicate End to the Uptrend

Yesterday I expected SPY to drop back to 109.52 to fill the gap up and fall back under trendline B, but instead SPY continued to march up trendline A. Breaking 111.7 was a very bullish statement and SPY could continue rallying all the way back to 115.99.

But I still believe SPY may drop and backtest trendline B before rallying to 116. If SPY runs up to 116 without filling gaps at 109.52 and 106 then we know that these rallies will be short-lived at best.