Thursday July 19th, 2018 by Mike Paulenoff SPY-- Isn't amazing that with all of the crazy news items this week, including fallout from the Helsinki Press Conference and today's attempt by POTUS to influence Fed interest rate policy, that SPY remains less than one point off of its all-time high of 281.17? My attached 4 hour SPY chart set up shows that for the past 24 hours the price structure has been digesting its two week gains at a very high level, actually within a range of about 1% off of the high. As long as SPY remains above 278.00, extraneous market noise aside, SPY appears to be preparing to initiate another upleg that fully challenges the Jan. high at 286.96.Mike Paulenoff is author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial! * I really like Mike's charts and analysis. This is shared with my readers here via MPtrader.com *-- In this case Mike P, is confirming or agreeing with what I have said the last few days in my Daily Trackdown chart analysis. -- Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. Follow us and check back occasionally for additional articles or comments.