SPY hits subtle warning phase

SPY is telling us that it's tired.  Head and shoulders, bear flag, subtle warning...

On the 65-minute.

I was reviewing Mamis' bottom formation and drinking a few beers....

and this is the weird stuff.  The SPY 65-minute chart looks like the inverse of the Mamis bottom,

so I'll call it the "Simam Top".  Look at the next chart for the inverse of the SPY...

Inverted SPY chart from above on the 65-minute scale.  This shows that recent top as the Mamis Point C "bottom."

Mamis' Point D is the denial of positives, so the inverse is the denial of negatives, correlates with the positive action despite the crappy employment numbers and continue excess capacity, not to mention the undercapitalized banks.

Inverse Point DD is the "renewal in belief in positives", and I think that is pretty close to where we are at now, or maybe Point E (Glee).  When it breaks thru the blue trend support, that would be the inverse Point F, and instead of "positive action met with suspicion", I'd guess it would be "negative action met with disbelief."

The question is whether we are at Point E now which would correspond to Mamis' Averson (call it "Glee"?) or is this a Point DD on the way to Glee?

I'll have to think about the inverse emotions and sentiment that would go along with the other points on this graph.

Okay, I'll stop drinking beer now when I look at charts... but if I'm right on this, I may have to get a Kegerator installed in my kitchen.