EMC Chart, page-22

the build up in the sp over the last 4 months suggest something solid is forming here, you are correct in saying this is positive for the long term trend.... creeping trends are the most powerful trends they give new players attractive entries without the fear of the sp being slammed down.... (this is were you will see the volatility at its lowest and bollinger bands at there tightest)

Closer examination of the trend shows us that during this 4 month consolidation period the sp has gone from a spiky trend (quick up moves followed by quick down moves) to the creeping trend we are seeing over the past month or so....

All this bodes very well as we get nearer and nearer to the all time highs...