Market Timing

This may be the "Breakout" for the SPY that we have all been waiting (and hoping) for:
 - see purple box on the middle right in the graph below
1) The SPY climbed to and hit the Resistance 1 level at $281/share, 
2) and it stayed around there for about 7 days,
3) then in the next 5 days the SPY dropped to the 200-Day SMA level for support, and   
4) moving average support held, and SPY rebounded back up to (and slightly above) Resistance 1 again.