Reverse H&S on SPY? update 2

2010-03-25 Update: SPY hit $118.10 intraday (the intraday high was $118.17). It remains to be seen what happens here. The market has been going up for so long and even a weaker euro has not derailed it, but I feel a bit more confident that we may have in fact seen the highest level for the SPY for at least a few days, if not a more significant top.
Here's the chart I posted on February 16.

SPY is about $116.95, or about 1% from the target. Once it hits that point, the pattern is complete. However, with the market at short-term overbought levels, perhaps that marks a short-term top.

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