Range Pattern Still in Play?

If you have been reading my previous posts, you can see that the range pattern could be respected again. Its too early to tell, but SPY is pointing in that direction. If SPY can Gap down below $111.40, it will negate some of yesterday's strength. The one caveat to the pattern play, is that yesterday we remained above the top of the range at the close of trading for the first time. Lets watch to see how it plays out. The range bottom could move up to the $110.34 area. I think it will be tough for the market to move below that level before the end of the year.