Why I am still bullish near term

I find these three features quite bullish.

1. The 200-dma is rising (click on the chart to enlarge it).
2. The SPY (ETF f the S&P 500) is still above the important support levels of 197-200.
3. Strong volume appeared only at bottoms as in October, in mid December, in January and recently. Every time the market rallied.

If SPY declines below 197 all the bets are off.

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