Updated chart: SPY broke out above110.40 and continued under momo up to 110.84 before weekend profit taking came back into the market. Call me crazy but we could see the market close on highs 1104.50.
You can see the triangle setting up for a move higher if enough volume shows up around 110.40. If the volume does not come into play the triangle could fail below 110.30. Keep an eye on this pattern..