My timer turned green last Thursday when I added STM to my portfolio. I remained cautious at that time, however, because the market was bumping up against resistance that it had been struggling to get through with whipsaw, range-bound action.
Today SPY has broken out of that resistance, confirming the bullish ascending triangle that I have been pointing out for some weeks. While I expect a pullback is in order after reaching a new all time high, I now have confidence that markets can continue to rally in the near future. As such, I have added four new positions to my portfolio. Here is the SPY chart.