The SPY P& F Chart is a Thing of Beauty

From a Point & Figure perspective, the remarkable Oct 15 advance continues to climb within an extremely orderly and well-defined stair-step up-trend pattern off of a low print of 182.00 into today's high print at 202.80 (+11.4%).

To break the back of the uptrend-- on the P&F chart—the SPY must press to a print of 201.00 for starters, and then must follow-through to a print of 200.00.

In the absence of any such weakness, however, the bulls remain in directional control, poised to claw its way towards 204.60/80.