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recent pull back doesn't mean trend change yet

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
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AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Technical Indicators
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As long as the monthly RSI REMAINS ABOVE 69.1, uptrend is intact. Until the noted RSI line becomes resistance and monthly RSI stays above 69.1
expect pull backs to be shallow and short lived, having said that, a test of the daily 100 MA is in play as the lower trend line was tested and held
but monthly chart can still be in an up trend while daily chart corrects
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